Letters to the Editor

Your views in 200 words or less

Tag: capital gains


BUDGET: Why target poor and middle class?

Re: “Inslee expected to sign $38.2B budget” (TNT, 7-1).

What’s this? We’re solving our state’s economic crisis on the backs of the poor, middle class and workers again.

Why is it always the easy solution? And I hear that we’re still not funding the schools at the level ordered by the state Supreme Court.

Oh, the rich don’t want to pay any more taxes? Well, we don’t either.

It’s amazing to me that we have one of the highest populations of wealthy people in our state, and we have the most regressive tax structure of any state. Of course

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TAXES: Exaggerations about capital gains tax

Re: “Two problems with capital gains tax” (letter, thenewstribune.com).

The letter writer quotes without attribution an article about Connecticut’s economy from Investor’s Business Daily, a very conservative publication.

The argument is that Connecticut’s income tax, the third highest in the nation including increases over the years, has done nothing to solve its fiscal problems, According to the rabid anti-tax faction, there is a slippery slope – once a state adds an income tax, there will be more tax increases.

In an attempt to scare Washington voters about the proposed capital gains tax, the letter writer compares the economies of

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TAXES: Two problems with capital gains tax

The Democrats’ capital gains tax idea sounds so benign, but like all new taxes it has two problems.

First, the money gets spent and it doesn’t solve the problem or an emergency redirects it.

And second, the solution is to raise or expand the tax.

Consider Connecticut, where politicians convinced the voters in 1991 to approve a small 4.5 percent income tax, promising it would solve budget problems for decades. Two years later, the money was gone because spending soared after the politicians had access to a new cash cow of income tax receipts.

Five income tax hikes later – plus property

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TAXES: First the rich pay, soon the rest of us

State House Democrats want to impose a new capital gains tax. They say it will only be levied against the rich. The money will be used for, of course, schoolchildren, the mentally ill and homeless kids.

Does anyone actually believe once a new tax is in place, it will only affect those dirty rotten rich people? Once in place, the new tax will soon affect anyone who has saved money.

If you disagree with new taxes, according to state Rep. Laurie Jinkins (Viewpoint, 6-7), you really want kids to be uneducated, the mentally ill untreated and poor children unfed. No,

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TAXES: Capital gains isn’t a reliable revenue source

Our governor’s 5 percent capital gains tax proposal on the “rich” to fund schools sounds good in theory. The theme is the “rich” can afford it and should pay more. That plays real well in the press.

The problem with theory is that is does not meet reality. First, capital gains income varies from year to year depending on the stock market. When the market goes down, as it always does over time (remember 2009 when it dropped from 14,000 to 6,300), there was no capital gains income to report. No gains, no revenue. Then what, governor?

Second, the “rich” have an

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TAXES: Inslee proposes a tax-and-spender budget

Re: “Inslee budget highlights” (TNT, 12-19).

What a surprise. To address a $2 billion state budget shortfall, Democratic Gov. Jay Inslee is going to up the cigarette tax and throw in new taxes for capital gains and carbon emissions. And repeal more than several current tax breaks.

Washington’s cigarette tax is one the highest in the country and will burden the heaviest smokers, often those struggling to get by. Imagine the wonderment as cigarette tax revenues evaporate to nearby states, where legions of Washingtonians already buy their liquor. Sin taxes are the first and last refuge of a tax-and-spender.

Capital gains tax

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TAXES: Same old capital gains tax fallacy

A recent letter writer stated that “There is a difference between wage income and capital gains. There is no risk when you have a job” (TNT, 2-21).

Of course there is. People invest in their earning potential all the time. People invest money and time to get licenses, certifications, college degrees and so forth. There is no guarantee that those investments will pay off. Just ask the millions of people out of work if investing in themselves has always paid off. Total college loan debt is almost $1 trillion and rising.

Human capital is created by investment from past

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TAXES: Keep rates low on capital gains

Re: “Why should Lady Gaga pay a higher tax rate than Mitt Romney?” (Katie Baird column, 2-14).

Your initial investment for any capital gain comes from income you paid regular taxes on. You have to take a risk to make a capital gain. If the investment doesn’t pay off, you lose the investment.

There is a difference between wage income and capital gains. There is no risk when you have a job. Yes, you could lose it or have to take a pay cut, but you are not risking money to earn it.

Baird talks about middle-class day traders

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