That's very well said.
Capital gains is a useful thing, although there is some question as to whether every dollar earned should be taxed at equal rates, as has been proposed for many years, but it is useful in incentivizing entrepreneurs, innovators and capital investors to increase our standard of living.
Capital gains being applied to land makes no sense at all. Land is a gift of nature. We don't produce it. There's no capital investment in producing it. It's not capital, so it should not apply to land. It's a distortion of the purpose of that tax.