Opinion: Truth or Liias – Will an evil billionaire be the only one to benefit from I-2109?

Let’s Go Washington officials provide a rebuttal to opposition of the three remaining Washington initiatives

Let’s Go Washington
for Clark County Today

If you’re paying any attention to the initiatives in Washington state, you’ve probably seen the barrage of lies about the purportedly damaging effects of enacting the remaining three. From claiming that long-term care programs will be dissolved, to attesting that free bikes will be taken back from school kids, there’s one legislator who just can’t seem to get the details of the initiatives right. That legislator has inspired this month’s series of releases where Let’s Go Washington fact checks the many claims made against the initiatives and offers a clearer picture of how they will improve people’s lives.

Truth or Liias: The capital gains tax only impacts the ultra-wealthy.

LGW Factcheck: Lie

Mom and pop shops and entrepreneurs are some of the hardest hit by a capital gains tax. Small businesses can incentivize their employees with ownership of their companies, but the capital gains tax directly impacts their ability to provide those benefits. It also rules out the option for owners to sell their business and make a profit substantial enough to retire from after taking small profits in the course of running their business.

Truth or Liias: Repealing the capital gains income tax will take away funding for schools.

LGW Factcheck: Lie

Washington state’s constitution guarantees funding for all education programs first and foremost. Because the cap gains income tax was instituted within the last two years and kids in Washington state have had their educational experiences fully funded for every year before that, this argument is easily debunked.

Truth or Liias: Only the top 3% of earners benefit from 2109.

LGW Factcheck: Lie

The truth is that the capital gains income tax will become an income tax for all earners, at least, that’s what some key liberal legislators have said. The capital gains tax is nothing more than a gateway to income taxes for all people.

“The next time someone tries to tell you that supporting the capital gains income tax will cut education funding for students, ask them how it was funded before 2022. The reality is that mom and pop shops and entrepreneurs are the real losers in the wake of cap gains income taxes. What’s to keep the threshold for this gateway tax from dropping until it’s an income tax for all people? Certainly not money-grabbers in Olympia.” Hallie Balch, Let’s Go Washington press secretary.

Visit letsgowashington.com for more information.