The Next 10 Days Will Determine the Fate of Our Economy

Every Washingtonian, no matter our background or where we come from, knows that our economy and our communities are strongest when all our neighbors have the necessities to thrive. But today Washington’s people and economy are facing an emergency – stuck in a downward economic spiral. More than 1.4 million workers have filed for unemployment, thousands of small businesses have shuttered and millions of households are struggling to balance childcare and work.

To address the economic emergency, our lawmakers are considering a new wealth tax on extraordinary profits from selling stocks, bonds and other highly lucrative assets to raise progressive revenue to fund our recovery. This modest wealth tax would be raised from a handful of ultra-rich Washingtonians, and it would not affect their daily lives at all. We can use this revenue to disrupt the downward economic spiral by supporting families and small businesses, reanimating consumer spending, and creating thousands of jobs. Anything less will only perpetuate this crisis for years to come. We’ve seen it before in the Great Recession.

Lawmakers have a choice: continue to prioritize a wealthy few or invest in our shared recovery. Windfall profits like capital gains wealth just make the rich richer. Instead, Washington can grow its way out of this crisis and lead the nation with a quick, robust, and equitable recovery. But we can’t wait – email your legislators today urging them to tax extraordinary wealth from capital gains and support Washington’s recovery.

The next 10 days will determine the fate of progressive revenue and our state’s economy. The Washington State Senate MUST vote on SB 5096 – a modest tax on extraordinary profits from capital gains. Urge your lawmakers to bring this important measure to the floor and vote yes!

First Name *

Last Name *

Email Address *

Phone Number *

Street Address *

Address 1 *

Latitude

Longditude

City *

ZIP code *

State *

Country *

Edit address

Your Letter *

Please support and pass SB 5096 to establish a modest tax on the extraordinary capital gains profits of the very wealthiest.

Washington’s economy is stuck in a destructive feedback loop. Because of the pandemic,  consumer demand has collapsed, which means employers have had to lay off workers. And since last year, thousands of temporary business closures have become permanent, which means more workers are laid off and fewer people are able to participate in the economy. If we don’t act soon to break this negative cycle, Washington state’s economic recovery from this crisis could be a decade-long slog.

Because Washington state has the most upside-down tax code in the United States, we can’t expect our poorest neighbors and overburdened middle class to carry the weight of this crisis. Instead, it’s time to tax some of the massive stores of untapped wealth that exists right here in Washington state and invest it directly in our communities so that our people can get back to work and our entrepreneurs can launch neighborhood businesses that will kickstart the economy back to life. One of the best ways to do that is by passing a tax on capital gains profits.

We can’t afford to wait any longer—we must pass  a wealth tax on the extraordinary capital gains profits of the superrich in order to fund direct emergency cash assistance to our neighbors who need it most. Corporations and the wealthy aren’t the real job creators – we are. When we put money in peoples’ pockets, they spend it in their communities, thereby saving and creating jobs by supporting local businesses. Passing SB 5096 is the only way we can break free from the looming economic death spiral and enter a positive economic feedback loop.

Your signature will automatically be added to your letter.

SMS opt in

Yes, I would like to opt-in to receive texts from Civic Action. Text STOP to opt out, HELP for help. Message & data rates may apply

No, I would not like to receive texts from Civic Action.

Partners
Civic Action
Balance Our Tax Code
Invest In WA Now
DemCastWA
Physicians for Social Responsibility
Faith Action Network

Leave this field blank

We will protect your privacy, and keep you informed about this campaign and others.