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As blue states raise taxes to fund an expanding array of social programs, companies, jobs, and families are moving out.
On March 30, Washington state enacted a 9.9 percent “millionaire’s” income tax, transitioning it from a no-income-tax state that had attracted companies such as Amazon, Microsoft, Costco, Boeing, and Starbucks, to joining the ranks of the 10 states with the highest income tax rates. That list includes California, Hawaii, New York, New Jersey, the District of Columbia, Oregon, Massachusetts, Minnesota, Vermont, and Wisconsin.
In signing the tax bill into law, Washington Gov. Bob Ferguson stated: “Adoption of the historic Millionaires’ Tax makes our tax system more fair, and means free meals for K-12 students, the largest tax break in state history for small businesses, eliminating the sales tax for baby diapers, and sending a check to nearly 500,000 working families to make life more affordable.”…
On March 30, Washington state enacted a 9.9 percent “millionaire’s” income tax, transitioning it from a no-income-tax state that had attracted companies such as Amazon, Microsoft, Costco, Boeing, and Starbucks, to joining the ranks of the 10 states with the highest income tax rates. That list includes California, Hawaii, New York, New Jersey, the District of Columbia, Oregon, Massachusetts, Minnesota, Vermont, and Wisconsin.
In signing the tax bill into law, Washington Gov. Bob Ferguson stated: “Adoption of the historic Millionaires’ Tax makes our tax system more fair, and means free meals for K-12 students, the largest tax break in state history for small businesses, eliminating the sales tax for baby diapers, and sending a check to nearly 500,000 working families to make life more affordable.”…
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