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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. 

United statesManuel ellisJay insleeGeorge floydOffice of independent investigationsLuckily washingtonEarned income taxClimate commitment actIndependent investigationsBeginning januaryTechnically not styrofoamஒன்றுபட்டது மாநிலங்களில்மானுவல் நீள்வட்டம்ஜெய் இன்சிலீஜார்ஜ் ஃப்லாய்ட்அலுவலகம் ஆஃப் சுயாதீனமான விசாரணைகள்