On I-2019, the possible repeal of Washington's income tax on capital gains

Washington voters will soon have an opportunity to have their say on an unusual and corrosive tax the legislature passed in 2021. The controversial tax imposes a levy of 7% on capital gains income over $250,000. While that seems like it would only apply to “the rich,” the legislature has already proposed expanding the tax until it hits working-class incomes.

Here’s how got where we are now. Three...