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Capital gains and the level of pain. It turns out the Washington State Supreme Court had no problem deciding that taxing capital gains is not聽an income tax.

It was a pretty decisive 7-2 vote. So now we have to decide how worried we should be.

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Speaking only for myself, looking at the numbers, my first reaction was, ‘wouldn鈥檛 it be nice to actually be in a position to have to pay this!’

Because it would mean I was in a position to cash in more than $250,000 in capital gains! Which I鈥檓 not.

But, suppose I invented the ultimate chatbot 鈥� ChatDaveRoss 鈥� capable of generating realistic spoken commentaries.

And the value of my ChatDaveRoss stock jumps by $20 million, and suddenly I feel the need to cash that in on the $20 million yacht of my dreams, the 鈥�.鈥�

“The luxury motor yacht Lady Michelle is a very popular and well-performing 55-meter super yacht. A highlight below deck is the split-level owner suite which is situated on the Main Deck and features separate his and hers bathrooms, its own panoramic observation lounge to enjoy views, and a private study. There’s a gym, a salon for guests to gather, and a dedicated dining space for meals inside.”

Unfortunately, under the Washington capital gains tax 鈥� once I pay 7% on my gains over $250,000 – I only have $18,600,000. Now, I have to go to the discount yachts.

“Here is a list of private yachts available for under $20 million.”

Aargh! It鈥檚 humiliating! I鈥檇 have to settle for the

“The yacht’s unpreserved magnificence can be seen throughout her generous 100-foot or 32-meter length.”

Talk about lipstick on a pig! Now instead of 180 feet, I have to shoehorn my guests into 100 feet?!?!

But I don鈥檛 want to go too far in making light of this because, according to our tax whisperer, Ken Williams, he knows of a few wealthy clients who might just say, 鈥渆nough of this鈥� I鈥檓 out.鈥�

“It’s a factor that people look at,” Williams said. “Now there’s less of an incentive to stay in Washington because it’s no longer the tax haven for large portfolios that create a lot of capital gains.”

So the Governor, now that he has his wish, needs to make this state the best incubator in the world for start-ups. For most entrepreneurs, money is a major motivation.

I don鈥檛 want to see a flotilla of Washington entrepreneurs sailing for Florida.

Listen to Seattle鈥檚 Morning News with Dave Ross and Colleen O鈥橞rien weekday mornings from 5 鈥� 9 a.m. on 成人X站 Newsradio, 97.3 FM. Subscribe to the聽podcast here.