Good, productive wealth is expected to accumulate value over time, for example by being invested in someone else's equity or in a worthwhile business venture. If you're sitting on capital that isn't doing that, you've functionally taken it out of the economy, and a well-designed system punishes that.
Invested capital is not guaranteed to make returns within a tax year. Taxes on capital gains are morally right, but wait until the gain has been realised before levying the tax.