Saturday, April 04, 2026
A windfall profits tax on selling inflated real estate is less vulnerable to people moving than Washington State's millionaires tax.
I think a windfall profits tax on selling homes and real estate would be less vulnerable to people leaving the state than the millionaires tax in Washington State. It's easier for someone to change their legal residence to another state sheltering stocks and other portable wealth. Real estate is attached to the land of the state so it doesn't move. It may not bring as much money, but it's less vulnerable to people moving out. Possibly less vulnerable to Washington State's constitutional prohibition on income taxes.
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