WA State Senator Floats 'Millionaire Tax' Idea On Her Blog
Washington state has no income tax. And the top Democrat in the state Senate says Washington’s sales tax is regressive. So Senator Lisa Brown is exploring the idea of a so-called millionaire’s tax. Correspondent Austin Jenkins reports.
For weeks Senator Brown has hinted that some kind of tax package will likely go to Washington voters to offset some of the looming budget cuts.
But in a new blog post, Brown endorses New York’s plan to temporarily raise taxes on people who earn $300,000 a year or more.
State Senator Ed Murray, a Seattle Democrat, thinks the timing might be just right.
Ed Murray: “This economic crisis provides, in a sad way, an opportunity and I could see this legislature doing something to really structurally reform our tax system this session.”
Creating a new income tax in Washington is fraught with challenges: there are constitutional questions and logistical ones, not to mention whether voters would go for it.
But Senator Brown notes that in the midst of the Great Depression, Washington voters overwhelmingly approved a graduated income tax -- only to have it thrown out by the courts.
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