The Parenthood Tax Rebate is a tax break given to tax residents to nudge them into making babies. There is a gradual slide down to a zero long-term capital gains status at the end of year seven. Again use a sliding scale of short-term rates towards a lower long-term capital gains tax. For example, profits from long-term capital gains in real estate can be invested in certain bonds to go tax-free. Back-of-the-envelope calculations say that capital gains revenue is just 3% of the total income tax revenue that’s collected from individual taxpayers.

Source: Mint June 11, 2019 17:03 UTC