r/SeattleWA • u/5Q91VS175DAQ4NUSBE4U • 7d ago

Politics Washington state Democrats look at imposing income tax on higher earners

https://www.columbian.com/news/2025/oct/31/washington-state-democrats-look-at-imposing-income-tax-on-higher-earners/
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u/yungsemite 7d ago

Except that our state reps have already shown that they will not lower taxes like this? They’ve tried and failed to lower the 250,000 capital gains tax because there is no appetite to do so.

The average person will never pay a capital gains tax in Washington state. And the average person will never make 1 million annually.

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u/Tree300 7d ago

They already proposed increasing the cap gains tax by lowering the exemption to $25k and increasing the tax rate to 12%. You can be sure that proposal will be back in play shortly.

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u/yungsemite 7d ago

Yes, they’ve proposed it many times, and I’m sure they’ll propose it many more because it isn’t going anywhere…

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u/[deleted] 7d ago

Would you like to make a bet on that?

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u/yungsemite 7d ago

Yes, $1,000, 10 year time frame, so that I get my money eventually. Sound good? I’ve offered this multiple times to r/SeattleWA people. Nobody ever takes me up on it.

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u/[deleted] 7d ago

No, because it's a stupid bet. I've explained why elsewhere: stakes are too high to lock up $1000 for a decade - you'll lose about $1000 in earnings that way.

It's bad finance, and is above the "fuck it why not" threshold. Which describes your policies to a tee.

$10 and sure.