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I'm sure your argument is deeper, but what you have written could be said about any tax, no? Is there something unique about capital gains tax in particular?
Capital gains taxes are double taxation...the company already pays income taxes on its profit.
I predict that people will leave Washington State in droves. Not because of the tax increase, but because the amount of taxes you pay goes into never ending government pit of inefficiency and incompetency. I’m down with paying more taxes but in return I want no homelessness, no chadzone, less crime, better roads, straight forward education (math is racist apparently), spotless streets, safety, eradication of poverty,…
people will also be leaving due to lord inslee's neverending "emergency powers"
I predict that people will leave Washington State in droves. Not because of the tax increase, but because the amount of taxes you pay goes into never ending government pit of inefficiency and incompetency. I’m down with paying more taxes but in return I want no homelessness, no chadzone, less crime, better roads, straight forward education (math is racist apparently), spotless streets, safety, eradication of poverty,…
Sound like a move to avoid losses. TL;DR: Nadella sold the shares “for personal financial planning and diversification reasons,” the Redmond-based company said in a statement Monday afternoon. “He is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft Board of Directors.”
> It comes in advance of Washington state implementing a controversial new capital gains tax. Passed by lawmakers in April, it primarily targets stock and business ownership sales with a 7% tax on long-term capital gains of more than $250,000.
> The first such tax in state history, it’s set to take effect on Jan. 1, 2022. Microsoft’s statement on Nadella’s stock sale did not address whether the impending capital gains tax factored into Nadella’s personal financial planning. A Wall Street Journal report cited analysts who pointed to a possible connection.
I predict that people will leave Washington State in droves. Not because of the tax increase, but because the amount of taxes you pay goes into never ending government pit of inefficiency and incompetency. I’m down with paying more taxes but in return I want no homelessness, no chadzone, less crime, better roads, straight forward education (math is racist apparently), spotless streets, safety, eradication of poverty,…
In terms of overall tax burden, until now WA has been pretty middle of the road (ranked 24 and 27 out 50 in two estimates). https://taxfoundation.org/publications/state-local-tax-burde... https://wallethub.com/edu/states-with-highest-lowest-tax-bur...
Earlier quoted context omitted.
Capital gains taxes are double taxation...the company already pays income taxes on its profit.
That would be dividends. Capital gains (in theory at least) are the result of a company investing in its future earning capacity, eg. hiring scientists for R&D, building a new factory, spending money on SaaS upgrades, etc. These all come out of the income statement as expenses, and aren't recorded as profit, so the company doesn't pay corporate taxes on them. You'd potentially have a point for buybacks, which are usu…
I predict that people will leave Washington State in droves. Not because of the tax increase, but because the amount of taxes you pay goes into never ending government pit of inefficiency and incompetency. I’m down with paying more taxes but in return I want no homelessness, no chadzone, less crime, better roads, straight forward education (math is racist apparently), spotless streets, safety, eradication of poverty,…
We should all be for greater efficiency of government. But ... is WA actually less efficient than other states? If so, how and why? In terms of overall tax burden, until now WA has been pretty middle of the road (ranked 24 and 27 out 50 in two estimates). https://taxfoundation.org/publications/state-local-tax-burde... https://wallethub.com/edu/states-with-highest-lowest-tax-bur...
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You can that say about any tax. The most economically efficient tax system is one where workers are taxed the least, and the profiting companies the most. Individual taxes are what stifle business, because we cannot afford to even take the risk to start small. Therefore we cannot dedicate full time to a business venture and we lose. These massive companies use the most public resources and hardly contribute back. An…
"The most economically efficient tax system is one where workers are taxed the least, and the profiting companies the most." Hmm. I don't think this is true. According to the article below, you can see that economists on the right and left favor a complete elimination of the corporate income tax. In fact, the article points out that it's one of the few areas of overlapping agreement! https://www.npr.org/sections/mone…
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Not because of the tax increase, but because the amount of taxes you pay goes into never ending government pit of inefficiency and incompetency. From my POV, having lived here for 20 years, WA residents used to get a reasonable deal on their taxes. Sure, they were high from the perspective of this Midwestern boy, but the ferries ran on time and shit got done. I do not feel that's the case anymore (well, the ferries a…
> I was just asking my wife the other day, "I don't mind high gas taxes per se, but for having some of the highest fuel taxes in the country, why is this highly-trafficked road such a piece of shit? They haven't paved it since we moved here." Suburbs in the US have too much roads per capita (thanks to SFH obsession), you'll end up with this issue almost no matter how much taxes you raise.