The 2021 Washington State Legislature passed ESSB 5096 which created a 7% tax on the sale or exchange of long-term capital assets. This tax seems to apply to rich guys only. But leaked documents show it will be used as a wedge to introduce a general tax on income.
There was a bill prohibiting taxes based on personal income was introduced duringthe 2021 legislative session in Olympia. Unfortunately, it was not considered.
Now, here, this initiative is being proposed so that the 2022 legislature will consider it. If that legislature does not pass this initiative into law, the voters may do so on November 8, 2022.
Washington voters have voted 10 times against state taxes based on personal income. The most recent time was in 2010, when large majorities of voters in all 39 counties—and 64 percent of voters, statewide — rejected Initiative 1098 (A former income tax proposal).
Initiative text link
I will support this initiative. To make a petition in Washington State is a complicated process. To get understanding of the process and applications, examine the Washington State Constitution, Article II, Section 1, paragraphs (a), (b), (c) & (d) (WA Constitution link)
The initiative does not have a website yet -- the legislature gets to act, or fail to act, first.. I will post the link. Most likely we will get a chance to vote for I-1408 in 2022.
I-1408 will give Washington voters the opportunity to reaffirm
their strong, long-standing opposition to taxes based on personal
income.
No comments:
Post a Comment