Capital Gains and Tax ‘Fairness’

Olympia passes a 7% tax on gains, joining 13 states in the 50% club with Biden’s tax hike.

WSJ editorial. Excerpt:

"Even economists at the Congressional Budget Office, no nest of supply-siders, think the revenue-maximizing rate is 28%, while other economists think it’s closer to 15%. It sure isn’t 50%.

The same Tax Foundation report suggests that the Biden capital-gains tax plan would shrink federal revenue by $124 billion over 10 years. States would see a decline too."