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I personally know several people who left Washington state because of the recently enacted capital gains tax. The tax was targeted at Jeff Bezos, but he decamp
by WalterBright 1y ago
I personally know several people who left Washington state because of the recently enacted capital gains tax.
The tax was targeted at Jeff Bezos, but he decamped to Florida just before it went into effect.
- seizethecheese 1y agoBezos famously says that when the anecdotes conflict with the data, trust the anecdotes
- WalterBright 1y agoBezos leaving probably subtracted billions from the Washington economy.
- cloverich 1y agoIt's an interesting one because its relatively mild; we decamped _to_ Washington from Oregon (very partially) because the tax was so much more favorable in Washington. (Washington tax here is cap gains at 7% which doesn't kick in until capital gains > 250k)
- WalterBright 1y agoIt was just raised to 9.9%. And the estate tax was just raised to 35%. Adding in the 40% federal estate tax, and it's 75%.