Washington state approves capital gains tax

Re:Washington state approves capital gains tax by nate_meurer on Friday April 30, 2021 @01:34PM (#26996605)

"Double taxation" as a concept is complete nonsense. You pay sales tax, property tax, VAT, etc out of money (or assets bought with money) that has already been subject to your income tax. You pay both federal and local income taxes on the same money. Tax systems are naturally layered, and have been since the beginning of civilization.

There are good arguments against capital gains tax, but this is not one of them.

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Re:Washington state approves capital gains tax by mattmcknight on Friday April 30, 2021 @01:46PM (#26996785)

Double taxation is more about how if if I own a c corp it pays a tax on profits, and then distributes that remainder of that profit to me and I pay the dividend tax on the same money. Thus the corp tax + the dividend tax should be close to the individual tax rate. When they aren't, you are tax advantaged to run an s corp.

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Re:Washington state approves capital gains tax by imtringued on Saturday May 01, 2021 @12:16PM (#27007465)

Double taxation increases tax complexity. If possible we limit ourselves to as few taxes as possible but make those we keep count.

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