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Thanks to our Sponsors

Thanks to our Sponsors. Sprague Israel Giles Inc. Finney, Neill & Co. P.S. Overview. Why we tax Legacy of the Great Recession Immediate options Structural problems Options for reform. Three Key Points. Taxes uphold shared public values

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Thanks to our Sponsors

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  1. Thanks to our Sponsors Sprague Israel Giles Inc. Finney, Neill & Co. P.S.

  2. Overview • Why we tax • Legacy of the Great Recession • Immediate options • Structural problems • Options for reform

  3. Three Key Points • Taxes uphold shared public values • Short-term revenues needed urgently • Structural flaws must be addressed

  4. Three Key Points • Taxes uphold shared public values • Short-term revenues needed urgently • Structural flaws must be addressed

  5. Three Key Points • Taxes uphold shared public values • Short-term revenues needed urgently • Structural flaws must be addressed

  6. Short-Term Options • Continue 2010 tax increases • Property tax options • Eliminate tax breaks • General tax increases

  7. Three Key Points • Taxes uphold shared public values • Short-term revenues needed urgently • Structural flaws must be addressed

  8. Systemic Revenue Problems • Inadequate • Upside down

  9. Systemic Revenue Problems • Inadequate • Upside down

  10. Systemic Revenue Problems • Inadequate • Upside down

  11. Structural Revenue Reform • Sales tax on consumer services • The Working Families Tax Rebate • Capital gains excise tax

  12. Structural Revenue Reform • Sales tax on consumer services • The Working Families Tax Rebate • Capital gains excise tax

  13. Structural Revenue Reform • Sales tax on consumer services • The Working Families Tax Rebate • Capital gains excise tax

  14. Structural Revenue Reform • Sales tax on consumer services • The Working Families Tax Rebate • Capital gains excise tax

  15. What we propose A state excise tax on capital gains • Tax rate = 6.5% • Exempt first $10,000 in gains • Use federal definitions

  16. Impact • $700 million per year • Only 2% of Washingtonians • Won’t impact retirement savings • Won’t impact home sales

  17. Three Key Points • Taxes uphold shared public values • Short-term revenues needed urgently • Structural flaws must be addressed

  18. Stay Connected Andy Nicholas, Senior Fiscal Analyst andyn@budgetandpolicy.org @budget_policy www.facebook.com/budgetandpolicy Sign up for email updates at: www.budgetandpolicy.org

  19. Thanks to our Sponsors Sprague Israel Giles Inc. Finney, Neill & Co. P.S.

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