For a time the state was socially liberal but still pretty business and tax friendly but there are too many greedy people who want to get their hands on that wealth entrepreneurs are creating.
And to build schools!? I already private tuition and our school could stand for some improvements, and our teachers deserve a bump in salary, but no we’re going to go tear down some perfectly usable elementary school to make a new more environmentally friendly one.
The money from this tax will only fatten the pockets of the bureaucrats, and will do little to nothing for the average person.
Washington in a nutshell.
No, wealth employees are creating and ownership is profiting from.
I’m curious where Washington will end up on the list if this goes into/stays in effect.
A $250K gain because your startup got acquired or IPO’ed doesn’t exactly translate into a high average salary over the many years it took to gain the windfall. (versus, say, working at Microsoft or Amazon, and getting an extra $50-100K per year.)
It's 7%. So if you make a 1.25M (remember how tax brackets work - it's after the threshold) - you pay WA $70k. I think there's literally no way to argue that's regressive.
Willing to bet that the ratio of politicians in Seattle that realize capital gains in excess of $250k/year vs. those that own real estate (especially multiple properties) is heavily favoring the latter group.
