Lawmakers pushing capital gains tax aren't listening to our history
What ever happened to ?“Government of the People, by the People, and for the People” in Washington State??
Every time an income tax has been proposed in Washing, the people have rejected it. Now, the big city Democrats in Olympia have pushed through a capital gains tax under the guise of an excise tax, when the IRS has forever considered capital gains as ordinary income. In doing this they have also totally ignored the State Constitution and previous state Supreme Court rulings.
Rest assured, if they get away with pushing this through, and it looks like they will, they will be emboldened to push for a state income tax next legislative session. The handwriting is on the wall!????