Liberal logic: Washington state considers easing property tax burden with a new capital gains tax

Judge Judy shakes head rolls eyes

Mental gymnastics required for this logic.

From As homeowners reel from the sticker shock of higher property tax bills (average increase 17%), lawmakers in Olympia are considering a new capital gains tax to ease some of the burden.

Acme Fuel Company has been serving Olympia for more than 90 years. The business has been passed from generation to generation. Now owners fear the Capital Gains Tax proposal will make it costly for the current generation to retire.

That’s why current owner Christophe Allen testified before the House Finance Committee. “If I go to sell my business now I’m hit with this tax on that sale.” To Allen, it doesn’t seem fair, “We’ve worked countless hours building our businesses up, nights, weekends, whatever and the value of our business, that is our retirement.”

Capital gains include profits from the stock market. The tax would be 7 percent but the first $50,000 of capital gains per couple would be exempt. That means only 2 percent of the state’s population would be taxed.

“For the past 24 years I have lived off of unearned income,” Ruth Lipscomb said. She is retired from Microsoft. “I am perfectly willing and able to pay this tax and it’s a modest tax and it will go toward things that I really care about.”

Here’s a pro-tip Ruth: You don’t need to wait for a tax to support things that you really care about. You can make a donation to the Washington State Treasurer to “assist in promoting excellence in government.” Go here!

Other exemptions include single family residences, condos, and duplexes. Also, farms and timberlands and retirement accounts.

Supporters say the money will ease the burden of rising property taxes, lowering the bill by an estimated 50 cents for every thousand dollars of assessed valuation.

“I’m not trying to feed the general fund,” said the House Finance Committee chair, Rep. Kristine Lytton. “I’m not trying to buy other programs, I’m trying to keep people in their homes.”



4 responses to “Liberal logic: Washington state considers easing property tax burden with a new capital gains tax

  1. Ruth Lipscomb……….
    “I am perfectly willing and able to pay this tax and it’s a modest tax…”
    Yeah. Right. But only if I make everybody else pay it too. Where’s the box to “opt out” if I don’t want to support ‘things that (she) really care(s) about.’

    Liked by 5 people

    • I love that “dig” you took at Ruth LOL

      Liked by 4 people

    • YouKnowWho . . . . I will admit upfront that math has never been my forte . . . but since when is lowering your property tax bill by fifty cents per every thousand in assessed value. Perhaps there may be many others who can pinch a hundred dollars and make it go a looooooong way, but I don’t seem to be able to. This is purely a feel good gesture, at best.

      DCG . . . Good article! The property taxes in Oregon have shot up exponentially, particularly in my neck of the woods. Thankfully, although the thieves in Salem at the State legislature are always trying to get the voters of Oregon to pass a sales tax . . . No Bloody Way! Once that camel gets its nose under the tent–there will be no turning back. We have repeatedly turned that proposal down. However, since we have such high numbers of libtards moving in from California, I have very little doubt that the voters who vote “NO” on instituting a sales tax will be able to hold the line much longer. I really dislike people like Ruth Lipscomb, who has all her pet liberal projects no doubt–it is outrageous that people like her vote in all the feel good measures, and other people suffer under the weight of the added taxes, which cause our property taxes to escalate. I have to laugh at renters, so many of them have a complete disconnect in their minds between all the wants that they vote in . . . yet they are SHOCKED and amazed that the greedy, evil landlords have the gall to raise their rents to cover this increased expense. I have a little lady upstairs right now who is in that boat. I have not raised her rent in 32 months, but the day of reckoning is quickly approaching–because I cannot just continue to east all the escalating expenses. I sometimes just wish that I was a heartless b*tch who didn’t care about other people’s circumstances–it would certainly make my life easier.

      Liked by 3 people

  2. They are very smart, one way or another they take our money, hahaha -a new road, a new park, a new program for the homeless and, for them, money in their pockets,

    Liked by 2 people

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