Washington's new capital gains tax goes before state Supreme Court

The hearing begins at 9 a.m. and can be streamed live or afterward via the government affairs channel TVW.

Progressives in Washington have been anticipating this hearing for years in the hope that the state Supreme Court will bless a capital gains tax as lawful – and perhaps even overturn a prior court precedent that has long stymied a personal income tax. Democratic lawmakers have long assailed Washington’s tax system – which doesn’t have a personal income tax – as regressive. Since state revenue depends so heavily on sales and business taxes, it means people who earn the least ultimately pay a higher share of their income in tax.

But

→ Continue reading at Crosscut

Similar Articles

Advertisment

Most Popular