It’s only been a few months since Washington State adopted its first ever income tax. It taxes income over $1 million a year at a whopping 9.9%, and top earners and businesses like Starbucks, Amazon, and Microsoft are already waving goodbye.
So now Democrats in Olympia have decided that the millionaire tax should apply to quarter-millionaires.
State Rep. Cindy Ryu flatly says the $1 million target is too high: “Do you really need more than a million dollars to live well in Washington state? I think not….Can we live well on $250,000 a year of net income? Absolutely at $250,000.”
Pretty soon if you earn a paycheck, you’ll be considered rich.
Of course the real problem in Washington State, just as in Washington DC, is runaway spending. In just a little more than a decade the state budget has doubled.
Hopefully, voters in Washington will repeal the failed income tax experiment altogether. There’s a ballot measure, Initiative 645, going to voters next month to do just that.


