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I'm not a fan of labelling tax code as "regressive" in this case. It hasn't moved "backwards", it's stayed the same. I also question the rationale behind givi
by jdonaldson 5y ago
I'm not a fan of labelling tax code as "regressive" in this case. It hasn't moved "backwards", it's stayed the same.
I also question the rationale behind giving our city and state more money... they haven't exactly exhibited forthright stewardship of existing tax resources. I have doubts that taking more capital gains taxes will be a net positive. This will in all likelihood negatively impact the region's yearly charitable donations. It will be interesting if someone does a before/after comparison of the net effect of this new tax.
- rileywatkins 5y agoI believe zacharycohn meant "regressive" as in "imposes a harsher burden on lower-income households than on households with higher incomes."[0] In this sense, Washington state does have a regressive tax system, in part thanks to 0% income tax and higher than average sales tax. [0] https://www.thebalance.com/regressive-tax-definition-history-effective-rate-4155620 https://www.thebalance.com/regressive-tax-definition-history...
- jdonaldson 5y agoUpvoted you. After reading the comment again I see that it should be interpreted the way you describe.
- zacharycohn 5y agoYes, progressive vs regressive taxes are a technical term.
- jdonaldson 5y agoYes, but I think it's a relatively new or transient interpretation. I couldn't find much of an authoritative basis for it. It would be great if you could post any links that you know of. There's a wikipedia article on it, but none of the key references exist any more : https://en.wikipedia.org/wiki/Regressive_tax https://en.wikipedia.org/wiki/Regressive_tax
- eschutte2 5y ago"The technical term for such taxation is regressive taxation" - Seligman 1894 https://www.jstor.org/stable/pdf/2485696.pdf https://www.jstor.org/stable/pdf/2485696.pdf