Capital Gains

Capital gainsWashingtonians receive a tax break on capital gains – the profits they make from the sale of high-end capital assets – which contributes to our state having the most upside-down tax code in the nation, in which people with low incomes pay seven times more as a share of their household incomes in state and local taxes than the wealthiest one percent. Eliminating the break on capital gains would help flip our tax code right-side up while providing our state with more revenue to pay for schools and other key priorities that help communities thrive. 


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Related Research:

A Capital Reform: Using Capital Gains to Fuel Job Creation and Economic Prosperity in Washington State

To create jobs, spur long-term economic growth, and foster prosperity, Washington state desperately needs to rebuild our eroding education, public health, and community safety infrastructure. The state has a powerful, but untapped resource to accomplish this: capital gains. A modest tax on some capital gains would help fuel economic recovery and opportunity for future generations of Washingtonians...
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