Pass the capital gains tax

The state of Washington has the most regressive tax system in the country. People at the highest income level pay 3% of their income in state and local taxes, while people at the lowest income level pay more than five times as much, 17%. If a capital gains tax were to pass, it would shift the balance toward greater equality. This tax would not apply to most people, only the top 1-2% of the population. It could generate $2.5 billion annually, once it has been established, which could support many unmet needs in Washington state. It does not apply to retirement incomes, sale of homes, or other transactions that would affect most people. It is not an income tax; it is a tax on a sale of certain assets.

Ask the Senate Ways and Means Committee to pass SB 5096.