I'm not a fan of labelling tax code as "regressive" in this case. It hasn't moved "backwards", it's stayed the same.

I also question the rationale behind giving our city and state more money... they haven't exactly exhibited forthright stewardship of existing tax resources. I have doubts that taking more capital gains taxes will be a net positive. This will in all likelihood negatively impact the region's yearly charitable donations. It will be interesting if someone does a before/after comparison of the net effect of this new tax.