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“ It is estimated that this tax only affects the 7000 richest individuals in Washington.” Careful, that’s how it always starts. Give it a decade or so and poli

“ It is estimated that this tax only affects the 7000 richest individuals in Washington.” Careful, that’s how it always starts. Give it a decade or so and politicians will be upset at how few people are actually paying this tax. They’ll demand all sorts of changes to the exemption structure so that they can raise more revenue. All while saying it’s only going to effect other people.

tolbish 6y ago
Isn't this exactly how it works in the majority of western European and Scandinavian countries?
- Shaanie 6y ago
  Nope, we have a much higher capital gains tax (and a progressive income tax) with a much smaller exemption, at least in Scandinavia.