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View Poll Results: do you support the cap gains tax?
No, no state cap gains tax period. 24 64.86%
Yes, but only if the 9.9% & $100,000 numbers are negotiated downward. 1 2.70%
Yes, but only if it can be crafted in such a way to absolutely guarantee no upward creep of the 9.9%/$100,000 levels. 5 13.51%
Yes, pass Gov. Inslee's proposal as it stands. 6 16.22%
Other (please explain below). 1 2.70%
Voters: 37. You may not vote on this poll

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Old 04-03-2019, 09:12 PM
 
Location: WA Desert, Seattle native
9,398 posts, read 8,778,237 times
Reputation: 8807

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No
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Old 04-04-2019, 04:30 AM
 
Location: Central Washington
1,663 posts, read 867,731 times
Reputation: 2941
Quote:
Originally Posted by grega94 View Post
If the state can’t get enough revenue from our sales tax then perhaps we should switch over to a value added tax?
The state doesn't have a revenue problem, it has a spending problem. The state budget is 43% higher than it was only five years ago, so we shouldn't have any tax increases of any kind until they can figure out what the phrase "fiscal responsibility" is in Olympia. Budgets' back to 2006. fiscal.wa.gov|Spending Trends


Quote:
Originally Posted by fnh View Post
Remember that 40+yr stretch when we had progressive taxation with top tier margins of 75% or more and America instantly burst into flames and collapsed into a Communist neutron star of horrors?

Right.

Remember that 40+ year stretch when virtually nobody paid 75% or more tax rates? Or back in the 1970s when we had "progressive taxation" and the top 1% paid 18.4% of all income taxes but by 2015 they paid 39.4%?
https://www.taxpolicycenter.org/statistics/shares-federal-tax-liabilities-all-households

Apparently not.

Income tax receipts have stayed between 7-9% of GDP, and was 8.3% in 2018, which was higher than any year from 1945 through 1968.





Quote:
Originally Posted by CityWok View Post
For all the socialist advocates out there, take a look at how socialist GDP compares to the United States. Most of those countries depend on the innovation from our country.

Socialism can solve problems in the short-term, but it create new ones. We already know the long-term effects socialism has on a country. History shows us that. Given the United States is a super power, we can't afford to lose our GDP because it makes us susceptible to competing super-powers, risking our way of life, and our ability to create socialist-like laws in the first place.

We shouldn't take for granted what our current system offers, which is unmatched in history. The recent interest in socialism in this country is absolutely baffling.
Yes it is. Part of the attraction I think is that many people don't know what a socialist country is (Bernie Sanders doesn't) and think that places like the Nordic countries which are actually mixed or market systems, and a lack of knowledge about how bad socialism actually works in practice. It helps to throw the word "democratic" in the name so they can say that this is new and improved socialism,and that they're really really going to make work great this time. And people love Santa Claus, because he brings them free stuff.
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Old 04-04-2019, 02:13 PM
 
Location: West Seattle
184 posts, read 334,588 times
Reputation: 169
The rich need to pay their fair share.
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Old 04-04-2019, 03:36 PM
 
Location: Clyde Hill, WA
6,061 posts, read 1,992,463 times
Reputation: 2167
Quote:
Originally Posted by dozerbear View Post



...
Yes it is. Part of the attraction I think is that many people don't know what a socialist country is (Bernie Sanders doesn't) and think that places like the Nordic countries which are actually mixed or market systems, and a lack of knowledge about how bad socialism actually works in practice. It helps to throw the word "democratic" in the name so they can say that this is new and improved socialism,and that they're really really going to make work great this time. And people love Santa Claus, because he brings them free stuff.
How dare you supply the facts!!!!

Bernie knows it but it, but also knows that isn't politically beneficial for him to say it. See post #16, and click the 'view post' link.

But please back on topic, which is the cap gains tax in WA.
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Old 04-05-2019, 03:28 AM
 
Location: Metro Seattle Area - Born and Raised
4,837 posts, read 2,006,746 times
Reputation: 8542
Quote:
Originally Posted by Prince Mongo View Post
The rich need to pay their fair share.
This is how this tax will pass... "The rich need to pay their fair share."

To the uninformed voter, that sound like a good ideal, but just you wait, everybody will be paying their fair share, plus more since they will enact "triggers" to change the concept of "sticking it to the man." AGAIN!! "The man" can simply move out of the State or even easier, claim to be a resident of another State by buying a cheap investment property outside of Washington State.

Many of these types of voters wonder why prices and rents keep going up... This might be shocking news, but the rich and the semi-rich will pass that cost down to others in numerous ways, like increasing the monthly rent on their rental property.... Many of these people are the ones complaining that they cannot afford to live inside Seattle city limits.

A serious question to ask yourself. What will happen if most of the "rich" do leave the State and this tax needs to be collected?? Kiss your retirement dreams good bye since your IRAs and 401Ks will be the new targets for the State government, who couldn't care less about you and your retirement.... The Governor still needs his 2 billion dollars to study the whales!!

Be careful with the BS party line of "the rich need to pay their fair share" cuz someday YOU might be in the middle to upper middle class and get stuck with this bad ideal. If you're single, making over $100Ks (gross) a year, you will soon be "rich" in the eyes of the State's government. If you live anywhere near Seattle, $100Ks isn't a lot AFTER paying your federal income taxes, your medical insurance plan fees and trying to save up for your retirement.

Last edited by bergun; 04-05-2019 at 03:42 AM..
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Old 04-05-2019, 10:23 AM
 
301 posts, read 310,031 times
Reputation: 436
No.

Also conspiracy-theory time. There are a lot of programmers around here and equity is a standard part of compensation for us, which I think is a capital gain? Is this basically just a sneaky way to target programmers, disguised under the usual "let's tax rich" banner? If yes, why not tax other professions while at it? Like "apple growing" tax, no? I am sure all those farmers are filthy rich too. (just a random example, no grudge against apple farmers, they are cool people)
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Old 04-06-2019, 02:38 PM
 
Location: Clyde Hill, WA
6,061 posts, read 1,992,463 times
Reputation: 2167
^^yes, it would be just brilliant for WA to chase out the software industry. If any industry can readily be relocated, I think it would be software.

Maryland passed a 'millionaire' tax a few years ago. The result was that many millionaires moved out of the state.
https://www.cnbc.com/id/48120446

Quote:
The study, by the anti-tax group Change Maryland, says that a net 31,000 residents left the state between 2007 and 2010, the tenure of a "millionaire's tax" pushed through by Gov. Martin O'Malley. The tax, which expired in 2010, in imposed a rate of 6.25 percent on incomes of more than $1 million a year.
They actually elected a Republican governor after that. I don't think anyone wants to see that happen here.
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Old 04-06-2019, 04:07 PM
 
246 posts, read 318,186 times
Reputation: 410
Personally, I’m of the belief that earned income and capital gains should be taxed at the same rate. If you want to carve it exemptions for primary residence, that’s fine. But income is income regardless of the source.

With Washington’s income tax at 0, capital gains should also be 0.

More importantly than the question of “do I support a tax” I don’t know what program the additional revenue is for. I need to know what the spending is for before I know whether the tax is worth it.
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Old 04-07-2019, 04:33 AM
 
Location: Metro Seattle Area - Born and Raised
4,837 posts, read 2,006,746 times
Reputation: 8542
[quote=Beernik;54876049]Personally, I’m of the belief that earned income and capital gains should be taxed at the same rate. If you want to carve it exemptions for primary residence, that’s fine. But income is income regardless of the source.

With Washington’s income tax at 0, capital gains should also be 0.

More importantly than the question of “do I support a tax” I don’t know what program the additional revenue is for. I need to know what the spending is for before I know whether the tax is worth it.[/QUOTE]

Beernik, thank you for some clarity.

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.

Also, often they will "Sell it" by saying that it will go to funding programs X and projects Y, but most, if not all of the money will be redirected into the General Funds, where it simply disappears into thin air since there isn't any real accountability there. While program X and projects Y are under funded and fail, which is simply a waste of time and effort... And a bold face lie.

Sorry, but the slipping more money and more money into the General Fund accounts is the largest legalized scam out there.
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Old 04-07-2019, 07:32 PM
 
26 posts, read 19,097 times
Reputation: 51
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?
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