ew73
ew73 t1_j2cyb0p wrote
Reply to comment by the_dayman in [WP] Every species in the galaxy eventually fell to a robot uprising, leading to the eradication of their people. Therefore the machine-council of the galaxy are surprised when a newly discovered machine civilisation from a planet they designated "Earth" arrives side by side with their creators. by Kitty_Fuchs
ew73 t1_jdlkzuy wrote
Reply to comment by nanobitegamer in Washington Supreme Court upholds new capital gains tax by Bozzooo
Capital Gains taxes are pretty simple.
Capital gains is just a fancy way to say "profit" when you're talking about stocks. It's the amount that some asset increases since you bought it. It's only calculated when you sell the asset. So if you buy something for $10, and sell it for $100, your "capital gains" is $90.
The Washington law taxes capital gains, but only amounts over $250,000, at 7%.
The Washington Supreme Court decdied that the capital gains tax law as an "excise tax".
An excise tax is one that is often levied on some some good, or activity. Cigarettes and alcohol are often subject to additional excise taxes, for example. Gasoline is another common item subject to excise taxes.
So, along with cigarettes, gasoline, alcohol, and some other things, capital gains are also subject to an excise tax.