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Companies, jobs, and families are moving out of blue states that are raising taxes to fund an expanding array of social programs.
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 one of the 10 states and districts with the highest income tax rates, along with California, the District of Columbia, Hawaii, New York, New Jersey, Oregon, Massachusetts, Minnesota, Vermont, and Wisconsin.
In signing the tax bill into law, Washington Gov. Bob Ferguson said, “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 one of the 10 states and districts with the highest income tax rates, along with California, the District of Columbia, Hawaii, New York, New Jersey, Oregon, Massachusetts, Minnesota, Vermont, and Wisconsin.
In signing the tax bill into law, Washington Gov. Bob Ferguson said, “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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