State should close loopholes, tax capital gains

I attended a town hall recently with legislative Rep. John Lovick, D-Mill Creek. I was hopeful after I left about the way our state takes in revenue and that there are ways being discussed to fix it.

In my opinion, our tax system in Washington is long overdue for an overhaul. There are many loopholes and tax breaks that need to be identified and removed.

We are one of the few states that do not tax the money made from capital gains! Think of what that revenue can do to fund our schools. Working families end up paying seven times the amount of the wealthy the way our tax system is structured!

Corporations get breaks, but small business don’t.

I’d like to encourage anyone who reads this letter to get in touch with our state legislators and tell them to please keep these things in mind when they work on the budget this year. Ask them to advocate for closing the wasteful tax breaks for the wealthy and big businesses so we can fix our upside down tax code and make sure more people are paying more fairly.

Karen Boe

Lake Stevens

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