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It doesn’t take a numbers whiz to know our tax system is regressive. The absence of a state income tax disproportionately burdens Washington residents with lower incomes. Local lawmakers have tried to mitigate wealth inequality for years by levying investments instead of salaries, a more politically fraught financial realm. But it took until now for them to finally make the state’s revenue department a little fairer. 
Starting on January 1, 2022, Washingtonians will pay a 7 percent tax on the sale of stocks, bonds, and other assets 
that net them more than $250,000 in a single year. Only an estimated 7,000 locals will have to cough up this cash—your average GameStop trader doesn’t come close to raking in a quarter-mil—but the collective contribution of those 7,000 adds up to more than $400 million annually for the state, much of which is earmarked for education. Our gain, in other words ....

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