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Washington Taxed Its Millionaires. Now the Rich Want It Repealed.
nytimes.com • • nation
Key Points:
- Washington State voters will decide on a new "millionaires tax," a 9.9% levy on income over $1 million, projected to generate over $3 billion annually to address the state's fiscal challenges.
- Opponents of the tax, including former Representative Jaime Herrera Beutler, argue it will drive wealthy entrepreneurs out of the state and lead to broader income taxes.
- The November election will also reflect broader West Coast attitudes toward taxing the wealthy, with California voters considering both a millionaire tax and a billionaire wealth tax.
- California's proposed billionaire tax has sparked significant opposition from wealthy residents and public sector groups concerned about potential budget impacts.
