Huge Win for Kids, Parents, and Schools!

This just in from Invest in Washington Now.

After 10 years of coming together to push for change to our unfair tax system, all of us just won a huge victory for young kids, parents and schools. The WA Supreme Court just validated the capital gains tax on ultra-millionaires and billionaires. This is HUGE. Millions of students, whether in pre-school, high school, or technical college, will directly benefit from the extra $500 million per year raised by this tax on the ultra-rich. To be clear, this tax will decrease the pressure on low and middle income families. It impacts just the wealthiest among us. Only 0.2% of Washingtonian taxpayers will see enough profits to pay this tax. The 7% capital gains tax on stock sales’ extraordinary profits exceeding $250,000 annually does not apply to real estate, retirement accounts like IRAs, family-owned small businesses, and farms, among other things.   Still wondering if the capital gains tax applies to you? Check out this video from math teacher Larry.  
We have a long way to go, but when we insist that everyone — including the wealthiest Washingtonians — pay what they truly owe in taxes — we begin to undo decades of racism and disinvestment that hurts families, communities, and small businesses.