Republicans have fiercely opposed the tax, which applies to profits from selling assets, such as stocks and bonds. They say it will make Washington a less attractive place to do business. GOP lawmakers have also criticized it as a step toward taxing income more broadly.
Democrats, meanwhile, have called the capital gains tax a necessary step toward making the state’s tax system more fair — particularly in a state like Washington, which doesn’t tax income.
Now, with the capital gains tax on the verge of becoming reality, it faces legal challenges that could compromise Democrats’ vision of imposing higher taxes on the wealthy.
Here’s a look at what the tax
→ Continue reading at Crosscut
