This is an interesting justification for higher wealth tax rates

There are, of course there are, those who just want more people to be paying more in tax. Which brings us to this interesting supposed justification for higher capital gains tax rates:

It said the Treasury was likely to suffer steep falls in capital gains tax (CGT) receipts over the next two years as property and other assets slump in value, adding further pressure on Sunak to increase tax rates to fill the gap.

Those rich people are making less money therefore they should pay more in tax?

As is so often true it’s possible to invert the argument to see if it sounds ridiculous. So, let us do that. Imagine a roaring economy with capital gains mounting up as far as the eye can see. Would we - anyone in fact - then accept the argument that capital gains taxes should fall?

To ask the question is to know how such a suggestion would be received. Thus the initial claim is invalid as well. Some people just want MOAR TAX and any excuse will do that is.