By: John Ley

John Ley — Tue, 27 Apr 2021 17:12:49 +0000

In reply to Richard. Richard -- the B&O tax is a tax NOT on 'profit", but on every single dollar that a business takes in, regardless of whether or not there is a profit. FYI.

By: Richard

Richard — Sun, 25 Apr 2021 15:45:34 +0000

Call it what you like, but this is not a standard sales tax Bill. That would include even a coffee pot. We already have a tax on purchasing large ticket items on vehicles and vessels, and this is similar, but in reality, the polar opposite. Capitol gains are only paid when a stock transaction is considered sold. This is not a sales tax to an individual, as it occurs not when the stock is bought, but when it is sold to another, more similar to a B&O tax, but on investment sales. One pays nothing going in, but does going out. It is merely a taxation on a profit, not a purchase. Having gained from an investment, I am more than happy to share my gains, much as one would from a casino win. There is no tax on the purchase of the gambling machine bet, but there is when one turns in the ticket as a sale on those winnings. Clearly the individual and the business is sharing profits for the right to gain from an investment of capitol or discretionary dollars

Comments on: Olympia Update: Debate over capital gains income tax was ‘blatantly dishonest’

By: John Ley

By: Richard