“The Washington State House Finance Committee made revisions to a proposed income tax after a group of progressive lawmakers said the previous version gave away too much while not doing enough for working families.
“A tax break that would have benefited big businesses has been removed from the latest version of a bill to tax incomes more than $1 million is being advanced by Democratic leaders. A group of 13 progressive lawmakers in the House pushed for those provisions to be stripped.”
The 1930 statute states that we can’t have a “graduated tax on property”. Since then, it has been accepted that income/money was part of that property definition. If that were the case, then any income tax would have to be a flat percentage for everyone. The state supreme court overturned that in 2023 when we instituted a state capital gains tax. Their new ruling is that a tax on the transaction of goods or capital does not constitute a tax on ownership of same. That means income is taxable at variable rates now.
Thanks for the explanation.
Really don’t like all of the legal ambiguity. Of things like this, feel like the courts have too much power these days. Let’s just put it on the ballot and vote lol