Seems like it would also result in capital investors covering more year-to-year tax revenue, which could reduce some pressure on other tax payers.

In theory, capital gains should average out over time. But in practice, I think an increasing amount of wealth is being held and not realized over many decades.

It doesn’t help anyone that a few billion $ of gains will be taxed eventually if that is so far into the future that most citizens alive today will have passed away by then.