Just months after the Washington Supreme Court ruled that a capital gains tax enacted by the state is constitutional, one anti-tax group awaits a decision from the nation’s highest court on whether to hear its case.
The capital gains tax in question is a 7% tax “on any gain in excess of $250,000 in a calendar year from the sale or exchange of certain long-term capital assets such as stocks, bonds, business interests, or other investments and tangible assets,” according to the Washington Department of Revenue.
The Freedom Foundation, a conservative think tank that “promotes free markets and limited, accountable government,” is hoping the U.S. Supreme Court will take up their appeal to have the tax overturned. read more
I don’t think anyone not named Biden, Clinton, Bush, or Obama is going to have any capital gains anyway, for a very long time.
The solution is quite simple. The people need to eliminate unconstitutional programs and departments, and the remaining govt entities need to cut 90% of their spending.
I said it would be simple. I didn’t say it would be easy. Or even possible.
I just did my moms taxes. You have to be a lawyer to just to do a simple return. The people who make these forms should be beat with a bat.
Wait a second, I’m not a math wizard, so someone help me out here.
$250,000 is less than $400,000, yes?
Remind me what Joek campaigned on.