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Started By
Message
re: Washington state, once famous for having 0 income tax, passes 10% income tax on 1m+
Posted on 3/11/26 at 3:45 pm to ParkRanger
Posted on 3/11/26 at 3:45 pm to ParkRanger
Little too much coffee for you today... 
0
Posted on 3/11/26 at 3:46 pm to ParkRanger
quote:
it’s fitting they’re moving to Nashville
They’re not moving to Nashville.
Posted on 3/11/26 at 3:46 pm to dalefla
quote:
So zero tax if you make $999,999.99 or 10% for making 1 cent more?
That's just stupid.
Its progressive like, I assume, all income tax.
Are you saying you want a non progressive income tax? Because that would be terrible for all of us.
Posted on 3/11/26 at 3:47 pm to dalefla
quote:
So zero tax if you make $999,999.99 or 10% for making 1 cent more?
The 10% only applies to amounts over $1M.
And not a lot of people make over $10M in income. And most of the ones who do are clever enough to avoid tax liability.
Basically this is a tax on pro athletes.
Posted on 3/11/26 at 3:49 pm to AUFANATL
Seattle area has many W2 tech workers with dual incomes in the 1m range. This will impact a lot of people on the fringe
Posted on 3/11/26 at 3:50 pm to HailHailtoMichigan!
Idaho will welcome these couples and their $ and businesses with open arms
Posted on 3/11/26 at 3:52 pm to Loup
quote:
poor people think that they are poor because other people are wealthy
As aptly as it could be stated. Kudos.
Posted on 3/11/26 at 3:55 pm to fareplay
quote:
Seattle area has many W2 tech workers with dual incomes in the 1m range. This will impact a lot of people on the fringe
It’s on adjusted gross household income. They claim that this is only going to affect the top one-half of the top 1% of taxpayers.
Posted on 3/11/26 at 3:56 pm to Fat and Happy
quote:
Because the folks that are for this have this mindset that they got the rich folks and they gonna finally pay way more now.
Correct. The things they always fail to acknowledge/understand:
1) Basic economics
2) The increased ability to relocate post-covid
3) That wealthy are smarter than them
But, go for it, I guess. Maybe the wealthy progressives will applaud their new ability to "pay their fair share" and happily send that check in.
This post was edited on 3/11/26 at 4:03 pm
Posted on 3/11/26 at 3:57 pm to ParkRanger
quote:
That’s ironic considering those who are wealthy have more money than they’ll ever spend or need.
Oh you sweet summer child
Posted on 3/11/26 at 3:58 pm to AUFANATL
A lot married couples can gross over $1M annually.
They'll be penalized for being married, under the new tax.
They'll be penalized for being married, under the new tax.
Posted on 3/11/26 at 3:59 pm to reggierayreb
quote:
Idaho will welcome these couples and their $ and businesses with open arms
Doesn’t Idaho have a state income tax? A person would crunch the numbers to see if the 10% tax on adjusted gross income above $1 million is more than Idaho’s 5.3% tax on all income.
Posted on 3/11/26 at 4:00 pm to N2cars
quote:
A lot married couples can gross over $1M annually.
could they not file separately?
Posted on 3/11/26 at 4:00 pm to nes2010
quote:
it would hit as many as 30,000 Washington households to bring in about $4 billion per year for the General Fund.
If those numbers are accurate, that would be another $133,000 per year in state tax for those households on average
I'd be out of there yesterday.
Posted on 3/11/26 at 4:05 pm to Salmon
They can't, under this new tax, unless I read incorrectly.
quote:
Married couples share A SINGLE $1M exemption, so if combined incomes are more than $1M, you're getting taxed.
This post was edited on 3/11/26 at 4:06 pm
Posted on 3/11/26 at 4:26 pm to NorCali
quote:
Let’s be honest. No one makes that on salary.
I see it all the time in my practice. I have clients with W-2s of $3 million and $6 million.
There is also Big Law partners with K-1s with ordinary income much higher than that.
Is it very common? No but there are many folks that do make that much annually via salary or partnership income.
Posted on 3/11/26 at 4:27 pm to N2cars
Yeah I read it as a penalty for married couples.
Posted on 3/11/26 at 4:38 pm to Loup
class warfare at its best ... "I'm not educated nor am I employed, so let the other people pay my freight."
Posted on 3/11/26 at 4:47 pm to CatfishJohn
quote:The way this is written it makes a marriage penalty.
A single person making over $1m is much different than filing jointly for $1m. That's a pretty low damn bar for married couples if this is being framed as tax on the super wealthy.
ETA:
Unless I'm misreading.
Posted on 3/11/26 at 4:55 pm to HailHailtoMichigan!
quote:
Why throw a wrench into something that works?
The modern democrat party is run by progressive communists, that’s why
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