主题：房地产问题大论辨专题，欢迎大家来怼到我无言以对。 -- 俺老孫

It is UNREASONABLE to tax flows (annual earnings based on WORK), but NOT on wealth base or capital gains.

败坏 starts from Ronald Reagon's big tax reform in 1985. Same problem in Canada/UK too. China is even worse: there is income tax on wage, business income, bank interest, but ZERO TAX on speculative gains from real estate or stock market AT ALL. Because these two markets are the main sources for the political elites to trade in inside info, political privilege for billions of portable cash.

In US and UK, Capital gains are subject to not only MUCH LOWER RATES, but are also classified into long term gains and short term gains and are then treated even nicer under the 2nd category.