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Capital gains can be considered income depending on how the tax is structured. States without income tax are nearly always states with more regressive tax stru
by jwestbury 3y ago
Capital gains can be considered income depending on how the tax is structured.
States without income tax are nearly always states with more regressive tax structures as a whole[0]. States with income tax are typically less regressive. Property tax can target wealth, yes; but states without income tax nearly always rely on sales and excise taxes to bridge the gap, not on property taxes.
0. https://itep.org/whopays/#:~:text=Washington%20State%20is%20the%20most,most%20regressive%20state%20tax%20systems https://itep.org/whopays/#:~:text=Washington%20State%20is%20....
- wolverine876 3y agoVery informative; thanks. But who taxes unrealized capital gains?