The Washington Policy Center video shows why we should not want a capital gains tax in Washington state
My thanks to the Washington Policy Center (WPC) for this video. Their article offers further information and perspective (here).
And “yes”, a capital gains tax IS an income tax, which is not permitted in our state constitution. Here’s an excerpt from the WPC.
“A proposal that would introduce an income tax in Washington state is currently being debated in Olympia. Advocates have called it an “excise tax,” a “sales tax,” and even “an excessive profits tax,” but it is an income tax on capital gains. Spend 6 minutes reading the linked op-eds here and watching our new video, and you’ll have everything you need to prove to friends and family that Washington faces the prospect of an income tax and why that tax would be bad policy for our state.”