Washington Gov. Jay Inslee called on state lawmakers to pass a capital gains tax on the sale of stocks, bonds, and other assets by the richest residents.
The Democratic governor’s proposal, aimed at the top 1.9% of households, is intended to address what has been criticized as a deeply regressive tax system. In Washington, the poorest pay six times more taxes as a percentage of their income, Inslee said at a press conference Thursday.
The current tax structure is “wildly unfair” and “it will not help our economic recovery,” Inslee said.
The Institute for Taxation and Economic Policy has ...