Capital gains tax obviously unconstitutional

Already technically in effect as of July 25, the capital gains tax needs to be quickly struck down as it has been wrongly painted as a legal excise tax. It will unconstitutionally be implementing a 7% tax on the sale of stocks, bonds and other investments if the profits are more than $250,000 annually.

The supporters of this legislation continue to insist that a capital gains tax is not an income tax. They are fooling no one, but themselves.

The U.S. Internal Revenue Service considers money gained through the sale of a capital asset — such as stocks and bonds — as taxable income.

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