Re: “State’s windfall another strike against capital-gains tax” [March 18, Opinion]:
The state’s windfall is a boon, no question about it. But the thing about windfalls is they don’t last.
Certainly the current windfall from the American Rescue Plan, designed for the current emergency, is a short-term boost that doesn’t alter the state’s reliance on an upside-down tax code which disproportionately costs the poor and benefits the rich.
That’s why Senate Bill 5096, the capital-gains tax of 7% on profits of more than $250,000, will be both timely and of long-term benefit to the state. Many wealthy people have supported this way to pay their share at last for the common good. It should pass.
Jonis Davis, Seattle