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Arguments For and Against
Arguments For
Supporters argue the capital gains tax was unconstitutional and unfairly targets investment income, discouraging entrepreneurship and economic growth.— Let's Go Washington
Proponents contend the tax could eventually be expanded to affect more taxpayers and sets a precedent for an income tax in a state that has never had one.
Arguments Against
Opponents argue repealing the tax would eliminate over $900 million in annual revenue dedicated to education and childcare for working families.— No on 2109 campaign
Critics contend the tax only affected roughly 4,000 of the wealthiest Washingtonians and was one of the few progressive revenue sources in a regressive tax system.— Washington State Budget & Policy Center