While red states continue to cut taxes this year, Democratic state legislators in blue states have already proposed major income tax rate increases.
The list of proposed income tax hikes include Michigan (4.25% to 9.25%), New York (13.5% to 15.5%) Rhode Island (5.99% to 8.99%), Virginia (5.75% to 10%), and Washington (0 to 9.9%). Those are only the tax hikes we’ve heard of so far. The year is just getting started in this race to the economic bottom.

