Do you support Gov. Inslee's proposed capital gains tax?

[thatguy950]

Originally Posted by chol1a

Yep, I'd love to vote Gov. Inslee out-of-office, together with all of the state regislative gangsters. Just curious how much more damage Inslee can do for us?

Just wait until his number one crony Sideshow Bob gets in there

[Returning2USA]

Originally Posted by travis t

This upward drift was exactly what happened with the federal income tax. When proposed in 1913, it was sold on the basis of low rates that would impact only the very wealthy. The top rate was 7%. Over the decades that was ratcheted upwards.

This is exactly what Gov. Inslee is doing here--selling it on the basis of 'wealthy only,' with, as far as I can tell, no guarantee against future increases to affect the middle class.

True.

It's a trick.

Also, an individual making $100K gross a year in Washington in general and Seattle in particular is working class.

Period.

[Xanathos]

Originally Posted by Prince Mongo

The rich need to pay their fair share.

Read a quote a ways back that has stuck with me, and it will always hold true (this is somewhat paraphrased):


Ask any leftist - ANY leftist - who isn't "paying their fair share" - and they will universally state somebody who is making more or has more than the leftist makes or has. From the welfare queen that thinks everybody needs to pay more to the front office worker that thinks the techies need to pay more to the Hollywood stars who think studio heads and hedge fund managers need to pay more, to those heads and managers who think that CEO's need to pay more. Even Fauxcahontas Warren, when she released her tax plan on who wasn't paying enough, conveniently placed the threshold for who needs to be soaked juuuuuust above what her and her husband make.



You'll never see a leftist claim that they're not the one paying their fair share, even if their share is zero, or even negative (takers)





Here's your reality: There has never been a time in Washington's history, adjusted for inflation or otherwise, that it has had more of the public's money available to spend, and yet they keep claiming they need more. Someone correctly pointed out the budget has gone up over 40% just in the last half-decade. And for what? None of your lives have drastically changed as a result of that. Soaking the rich isn't the solution to whatever problem you think you face. They're already paying more than their fair share. To claim otherwise is ignorant. But, unfortunately, spouting ignorance buys votes from ignorant, low information adults who have voter cards and are looking for an invisible boogeyman to blame for anything that doesn't go their way.

[Xanathos]

[quote=bergun;54878924]

Originally Posted by Beernik

Yes, I'm generally against taxes, but to be honest, if "I" knew that the monies raised through tax increases or from a new tax was solely to be spent on, I might support it. But to simply raise taxes without knowing where or how 80% to 90% of that money is to be spent, that's a big H3LL no.

e.

Even if they told you, would you believe them? How many times, just in the last decade, have they said "here, pass this tax, it's totally going to go pay for this thing", and then it turns out the money ends up in the general fund and spent on whatever the hell they want?

[travis t]

I kept forgetting to post this. Jason Mercier has been doing a yeoman's job of debunking the legislature's claim that the cap gains tax is not an income tax. As I posted previously, he contacted all 50 state revenue depts. and the IRS, all of whom agreed that it is an income tax, not an excise tax as claimed by proponents in the state legislature. Again, if it were an excise tax, it would apply to the value of the asset, not to the gain (income).

Mercier also took the time to contact a bunch of think tanks from across the spectrum about the cap gains tax:
https://www.washingtonpolicy.org/pub...e-income-taxes

There are few things that can unite national tax think tanks. One thing they all agree on, however, is that taxes on capital gains are income taxes. I asked national tax groups today if capital gains taxes are classified as an excise/sales tax or income tax. The responses are starting to come in (will update as received):
Urban Institute: “Income tax."

Center for American Progress: "Income tax."

Progressive Policy Institute: “Capital gains taxes would be considered a form of income tax: the gains are income generated by an owned asset the same way wages are income generated by labor.”

Tax Foundation: "It is an income tax. Capital gains constitute income and, when taxed, are taxed accordingly.”

IRS: "It is an income tax. More specifically, capital gains are treated as income under the tax code and taxed as such."
It appears a trend is developing....

Folks, these cap gains tax proponents are lying their hindquarters off.

[travis t]

My suggestion would be to print copies of this poll/thread and send it to your members of the state legislature. If you don't know whom that is, see post #4 to look them up. A good idea is to get a copy of the TRY ('they represent you') pamphlet put out by the League of Women Voters, usually available at public libraries.

[eugene_b]

Unfortubately I don’t get the luxury of voting until I finally can get citizenship someday. Taxation without representation, man.

[mhays25]

Originally Posted by Returning2USA

True.

It's a trick.

Also, an individual making $100K gross a year in Washington in general and Seattle in particular is working class.

Period.

For a family of four you could make that case that $100k isn't enough for an easy lifestyle. But an individual can live very well on that much in Seattle.