Why is the cap gain tax unpopular
Washington is pretty anti-tax in general, especially on any type of income (something banned by our state's constitution, which technically means the capital gains tax should likely be struck down were it not for our activist Supreme Court). For those paying attention, there have been attempts each year since it was instituted to lower the income thresholds dramatically, but I doubt most are aware of this as they haven't been successful. There is definitely a perception that Olympia will try to do so going forward even outside these attempts.
With that said, I'm not sure it will actually be repealed as high-earners are pretty hard to sympathize with, and a good chunk of the money is going to schools, which is hard to argue with too much. I don't think anyone really cares that Bezos relocated to Florida to dodge the tax; some might even see that as a perk.
I'm not overly inclined to repeal it myself given how regressive our state's taxes are otherwise.
