5 Reasons We Need a Capital Gains Tax Now!

By Whitney Kahn, parapro sub

#1: We have the worst tax system in the country. Literally.

People making $24,000 pay 6x as much of their income in taxes as millionaires. If we’re taxing the poor instead of the rich, it shouldn’t be a shock that we have a funding crisis.

 

#2: All the cool kids are doing it

42 other states already have a capital gains tax. Why don’t we?

 

#3: Guess who owns most of the stocks, bonds, and investment property? (Hint: it’s not your neighbors)

The reality is that a capital gains tax is closing a loophole. Right now, the type of property that the extremely wealthy own is exempt from property taxes. Let’s close that loophole and stop having homeowners shoulder the whole tax burden!

 

#4: A capital gains tax would raise over $700 million/year in progressive education funding!

Districts are already talking about layoffs for next year. We badly need the money and working people can’t afford another tax hike. A capital gains tax would be an immediate step forward.

 

#5: There has never been a better time!

Wealth inequality hasn’t been this bad since before the Great Depression, and Trump’s tax cuts for the rich are making it even worse. In WA, Democrats have controlled the state government for two years. It’s past time for them to act. Educators around the country from West Virginia to Los Angeles her showing that united action by educators is what makes change happen.

Let’s join the movement and fight for fully funded schools this year, starting with an immediate capital gains tax.

Sign & share the petition at www.tinyurl.com/wacapitalgains