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State Senator: “We don’t care whether a capital gains tax is an income tax”
With the state’s budget outlook in the news, discussion of a capital gains tax is occurring with greater frequency. There is one piece of information that is consistently left out, however: the fact that a capital gains tax is an income tax. This important detail dramatically changes the political and legal framework for the debate.
On the political side is the fact the voters have rejected 10 str...