State Dems Block Citizens Vote on Proposed Capital Gains Tax
You may have heard of the legislative battle going on in Olympia over one of Governor Inslee's 'holy grail' projects, the Capital Gains Tax.
According to an excellent piece in the independent Washington Observer, this would place a 7% tax on capital gains (on sale of stocks, for example) over $250,000. Now, granted capital gains on this level don't affect many of us. But it's the principle. Capital Gains taxes are un-Constitutional; although Democrats are trying to spin and bend it as an 'excise' tax. And, capital gains are unpredictable, they depend upon whom and when they choose to sell. They're also a sure fire way to discourage investors to pony up money in local and regional economies-investment.