Right, so you're both apparently arguing that we should scrap CGT and replace it with a higher rate of income tax, because in both of your opinions CGT is "unjust".

You're both utterly insane.

Quote Originally Posted by poop
The system should not be set up so that a tax that primarily affects rich people is lower than a tax that affects everyone.
Thankfully you're not in control of tax affairs. The UK is not unique in offering a lower rate of tax for making profit from assets rather than work, and there's a very good reason we (and pretty much every other country) do this. Because it would totally fuck the economy if we started claiming more money from people who have already paid 45% tax on their work income and are paying an extra 20% on their asset profits. People just wouldn't invest their money in the same volume.

And, again, it's not a question of whether it's legal or not. If someone passes an injust law, that doesn't make it fair. Legal is not a synonym for moral.
Yeah I'm just going to point out that CGT is not a new tax that Sunak and his cronies passed so they could pay less tax. They didn't pass an "unjust law", they're exploiting already established ones. Fair ones at that.

If people start having to pay 45% tax when they sell their house, I'll point them in your direction.

I'm not attacking Sunak personally. If I were him I'd take advantage of the system too. I'm saying the laws are unjust because they favour the wealthy. They make it so wealthy people can easily acquire more wealth while the rest of us are stuck where we are.
This is completely untrue. You have access to CGT. If you start making money trading crypto, then you pay less tax on that because it's capital gains, not income. And that's completely reasonable. You didn't work to earn that money. You waited. Your asset appreciated in value, and when you sold it and made that profit, you paid tax. Not 45% income tax, 20% CGT. This is normal, healthy tax policy.

CGT is not immoral. It's a tax on profit, as opposed a tax on work. People who pay it are likely already paying a higher rate of income tax than you are.