Schoesler: Farmers Need To Be Skeptical Of Capital Gains Tax

Despite being rejected by voters multiple times, lawmakers in Olympia are looking at putting a capital gains tax on the books in Washington. What impact would such as tax have on the farming community across the Evergreen State?

State Senator Mark Schoesler, a wheat farmer from the Ritzville are, called the capital gains idea a gateway drug.

“The average farmer won’t see it initially, but if they are involved in an LLC, C- or S-Corp down the road, and they want to transition through with family, they are likely to see it.”

Schoesler added the current proposal is not a capital gains tax on the wealthy.

“This getting a foot in the door for a full-blown income tax.  We saw that by the changes to the bill during committee.  So, we should be skeptical of this,” Schoesler noted. “And with the recent revenue forecast, there should be absolutely no reason for revenue of any kind.”

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One Response

  1. For the Baby Boomers who knew Social Security was going to be totally inadequate & planned for retirement through investing (outside the normal 401(k) plan) this so called State INCOME TAX, camouflaged by the liberals as a so called capital gains tax, is nothing more than a veiled Generation “Early Estate Tax Penalty” that robs what we all planned to spend in retirement, or leave to our children. It’s The liberals attempt at that last swipe at the most industrious & largest generation now phasing out of the working class. When we retire what will be the result? Far less tax base (working people) to cover current State & Federal spending. Certainly illegal immigration is no answer at all…they consume far more than they generate, and the liberals endorse & allow it. You don’t have to be a Rocket Scientist to figure out who “should” be paying for all the COVID 19 costs incurred. Isn’t this the second pandemic caused by the responsible Country. Has The USA become that complacent & apathetic? We need LEADERSHIP not more taxes.

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