Proposed 2% capital gains tax could spur wealth exodus

A proposed capital gains tax in Seattle draws mixed response from tech leaders and city lawmakers
The new proposal comes as the City of Seattle is hashing out its 2025-2026 budget, with Mayor Bruce Harrell calling for $8.3 billion in spending. That includes a $270 million hole in the city’s general fund, which helps pay for public safety, administration, education and human services, arts and culture, and other programs.
Seattle city economists: Proposed 2% capital gains tax could spur wealth exodus
Seattle officials worry that implementing a local capital gains tax would coax wealthy residents to change their home addresses. Seattle City Councilmember Cathy Moore is proposing a local 2% capital gains excise tax that would be applicable to non-retirement financial gains over $250,
Seattle's capital gains tax appears unlikely to pass
Washington State voters showed broad support for the State’s Capital Gains tax thi. But the idea for a much smaller city version in Seattle is struggling to stay alive. A crucial vote is scheduled for Thursday.
Seattle council member proposes capital gains tax at city level
Councilmember Cathy Moore said her Seattle capital gains tax would be "identical" to Washington state's, except with a 2% rate, rather than 7%.
Seattle councilmember proposes 2% capital gains tax to support low-income initiatives
Seattle City Councilmember Cathy Moore is proposing a 2% capital gains excise tax modeled on the Washington state tax that on Tuesday survived a ballot measure to nix it.
Seattle could get its own baby capital gains tax
On Tuesday, Seattle City Councilmember Cathy Moore plans to present the city council with a new idea: A 2% capital gains tax. It’s a baby version of the 7% capital gains tax voters just upheld for Washington State.
Opinion
Seattle City Council should reject new capital gains tax proposal
The Seattle City Council should reject an out-of-the-blue amendment in the middle of budget negotiations to implement a new capital gains tax.
Seattle council member jumps on capital gains bandwagon, proposes one for city residents
After WA voters rejected a measure to repeal the statewide capital gains tax, a Seattle City Council member plans to introduce a similar tax.
A proposed capital gains tax in Seattle draws mixed response from tech leaders and lawmakers
Members of the Seattle City Council’s Select Budget Committee on Wednesday debated a newly proposed 2% capital gains tax to support food and housing programs for the city’s low- and middle-income residents.
This 50-year-old Seattle woman found out she owns $18M in a single stock, but has ‘no idea’ what to do with it
However, single stocks, particularly in the tech sector, are notoriously volatile. Etsy has lost 34% over the course of 2024, ...
Capitol Hill Seattle Blog2d
Raiding JumpStart, new capital gains tax, Capitol Hill public safety line items on table in final Seattle 2025 budget push
The last big push of changes for the city’s 2025 $8.3 billion budget plan is underway as the Seattle City Council will host a ...