Capital gains taxes should be extorted only at the federal level. Reason enough to vote YES on I-1929.

@1 "should"?

You could at least deign to articulate some kind of principle in support of a normative claim.

@2: Well, less complex and uniformity in taxation laws across the republic are a couple of obvious benefits. Deign that.

@3 I think education and childcare outweigh rich people's accountants having to spend a little bit more time on their taxes.

Oops, education and childcare for millions outweigh a few thousand rich people's accountants having to spend a bit more time doing their jobs.

Oops, substitute a few thousand amoral sociopaths for rich people.

@3 - if "less complex and uniformity in taxation laws across the republic' are your standard, then individual states should not have any taxation authority at all.

I’m not sure how much juice this angle’s going to get. PDC filings isn’t the stuff that wins over hearts and minds.

@8: I didn't say that. You just spun up an extrapolation.

So, the proponent of a failed Initiative seeks revenge upon the persons who, she alleges, defeated her soooooooooooo unfairly last time. That's a great story, if stories about bitter, petty, chronic grudge-holding are your thing. If you wanted a story about campaign finance irregularities, you could do better than a purely-speculative one with truly huge logic holes, artlessly avoided by flat-footed jumping to predetermined conclusions:

"She argued that the consultants to whom the campaign owes money would not have taken on the work without knowing who was buttering their bread, and so the campaign must have given those consultants some assurances that the money was coming from one source or another."

I think she lost last time because she has absolutely no idea how political campaigns actually work.

This tax has nothing to do with kids or education. The state has more money than they know what to do with. The tax is and has always been about getting a case in front of the supremes to overturn the ruling that prevents the leg from enacting a progressive income tax. The rest of this is kabuki theater. If upheld there is no doubt the legislature will quickly lower the limits of the threshold so most of us are paying it along with enacting an income tax. Stop gaslighting people Rich.

Re (from the article): “wealthy Washingtonians' last defense against a small tax that would only hit a few thousand people in a state of more than 7.6 million”

Hmm. I wonder if this could lead to the eventual nullification of all such “sin taxes” imposed by the state from the perspective that they aren’t applied uniformly throughout the stste’s population.

Or, once and for all a repudiation that all taxes in the state should be uniformly applied in the first place.

Uh Rich... I think its the other way round..... The movement to get rid of the capital gains tax is off to a thumping start.

The Courts have overturned the the tax measure.... Its been struck down.

And rightfully so... its an income tax, pure and simple. State constitution doesn't allow for an income tax.

So ends the lesson.

@3: Rich people's capital (actually many asset classes owned by the middle class) often crosses state lines. A state capital gains tax puts Washington State in the business of chasing those assets across many jurisdictions. Some of these jurisdictions might take issue and chase their own taxation schemes back into Washington State. The war is on.

Leave the chasing of tax revenue across state lines to the Big Boys.