Washington lawmakers passed the state's first income tax of 9.9% on earners making $1M+

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thehill.com/homenews/5780480-washington-state-m…

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What are the exact circumstances. Because most of the high earners don’t make money through traditional income like us plebs. They make their money through things like stock and borrow against that for their cash, avoiding most income taxes because the cash comes from loans.

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The 9.9 percent annual tax on high-income earners is expected to generate up to $4 billion annually.

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It’s expected to impact 21,000

residents across the state.

Shrug

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Comments in Economy@lemmy.world

Including the billionaires and politicians, right?

Right?

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