You may have read that some legislators in the state of Washington had intended to tax the unrealized capital gains of the state’s residents. Thankfully for sanity, this effort appears to have died in the legislature. But Washingtonians aren’t out of the woods quite yet. The compromise position among the state’s radical left-wing lawmakers includes possible increases to other taxes. The Wall Street Journal’s editorial board writes:
State lawmakers have proposed several new tax measures as part of the state budget. The possible menu includes a payroll tax that would raise $6.9 billion, a property tax, a capital gains tax, a business and occupation tax and a plan to repeal tax exemptions for an extra $1 billion a year, according to the Washington Research Council’s review of the Senate’s version. There’s also a proposal for an online dating tax, one dollar a month for residents looking for love.
Why are politicians in Washington so eager to get their hands on more of their constituents’ hard-earned money? The effective tax rate in Washington is already 10.7% (Tax Foundation, 2022), which is the 30th highest in the nation. Well above average.
Action Line: When politicians want to use you like a piggy bank to fund their own personal political agendas, you need to look for a better America. Find a better home with Your Survival Guy’s 2025 Super States. Click here to subscribe to my free monthly Survive & Thrive letter.
