Tuesday, February 24, 2026

Washington State's potential millionaire's tax might make the state taxes more progressive.

I am glad Washington State might be getting something like an income tax; the millionaires tax. It's one of the only states without an income tax. I think progressive taxes are good.

One problem might be the effect on small business owners who show business revenue on their personal tax form. It's something called passthrough business which effects farms and small businesses. Much of that money is needed to run the business. I'm not enough of an accountant to know the details, but I basically think taxes should help to reduce income inequality among individuals, but taxes should try not to hamper businesses.

No comments: