Washington State's capital gains tax proves we can have nice things.
Washington State enacted a 7% capital gains tax levied on annual profits in excess of $250,000, and made a fortune, $600m more than projected in the first year, despite a 25% drop in the stock market and blistering interest rate hikes:
Cory Doctorow
https://pluralistic.net/2023/06/03/when-the-tide-goes-out/#passive-income