New state tax for millionaires
Posted: Sun Mar 15, 2026 8:15 am
Washington state has passed a state tax for millionaires. It is 9.9% of income over $1 million. Found it on msn.com. After 93 years and a 25-hour filibuster, Washington finally has an income tax, and billionaires are already packing their bags.
Further down found this paragraph:
Similarly, in California, a labor union put forward the 2026 Billionaire Tax Act, a ballot initiative that would impose a one-time 5% tax on residents with a net worth above $1 billion. If passed, it could generate approximately $100 billion in one-time revenue, directed toward healthcare and food assistance.
We need to write letters and get California to pass such legislation.
Your thoughts?
Code: Select all
https://www.msn.com/en-us/news/politics/after-93-years-and-a-25-hour-filibuster-washington-finally-has-an-income-tax-and-billionaires-are-already-packing-their-bags/ar-AA1YESWI?uxmode=ruby&ocid=edgntpruby&pc=BINBAN&cvid=69b6c3976476482c889c0afbb8de9a24&ei=25Further down found this paragraph:
Similarly, in California, a labor union put forward the 2026 Billionaire Tax Act, a ballot initiative that would impose a one-time 5% tax on residents with a net worth above $1 billion. If passed, it could generate approximately $100 billion in one-time revenue, directed toward healthcare and food assistance.
We need to write letters and get California to pass such legislation.
Your thoughts?