One thing I don't get. Let's say I bought a car 50 years ago for $3000 and sell it today for $30,000. That's not profit, that's inflation.
Gasoline and many other things costs at least 10 times what they cost 50 years ago. Why should I have to pay income tax on inflation? The new owner of the mythical car above is already paying state sales tax on it and now they want me to pay income tax on the inflation as well. musik

In theory, there is no difference between theory and practice. In practice, there is.