After three of his ballot measures were approved by the state legislature, Kirkland businessman Brian Haywood is now relying on the voters to pass the remaining three to maintain a perfect record.

Photo byThe New York Public LibraryonUnsplash

Haywood criticized the state legislature, stating that one-party control leads to an arrogance where the concerns of average people are ignored.

The Remaining Proposals

Among the three remaining proposals is the repeal of Washington's capital gains tax, which imposes a 7% tax on individuals earning more than $250,000 in a single year.

This tax was passed in 2021 and is estimated to cost the state $5.6 billion from funding designated for childcare and education.

Senate Majority Leader Andy Billig expressed concern over the potential repeal, stating that it would have devastating effects on the state.

Differing Views

Haywood argues that the capital gains tax is a way to indirectly implement a sales tax and claims that education funding would not be affected as required by state laws.

On the contrary, Sen. Billig believes that this tax, paid by a small percentage of individuals making significant profits, is essential for the state's financial well-being.

The Decision Lies with the Voters

Ultimately, the fate of the capital gains tax repeal and other proposed measures will be determined by the voters of Washington on Nov. 5.

What Are Your Thoughts?

• Do you believe repealing the capital gains tax in Washington would have a negative impact on the state?
• Should taxes be reduced to stimulate economic growth, or are they necessary for funding essential services like education?
• How do you think the one-party control in the legislature affects decision-making on important issues like taxation?

Share your thoughts and opinions in the comments below!