I believe the reasoning behind it is to incentivize long-term investing.
Though, it should really be a tiered system in that case - different tax rates for holding periods of <1 yr, 1-2 yr, 2-3 and so on, instead of just <1 yr & >1yr
Though, it should really be a tiered system in that case - different tax rates for holding periods of <1 yr, 1-2 yr, 2-3 and so on, instead of just <1 yr & >1yr
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