Washington State’s Income Tax Con

Democrats design a new ‘millionaire tax’ so it will inevitably capture the middle class

WSJ editorial. Excerpt:

"Once the state’s constitutional guardrails come off, middle-class Washingtonians know tax-and-spend Democrats will be coming for them next. That’s what happens in every state that has introduced an income tax. Spending soars with the new revenue, and politicians demand even higher taxes. The rate starts low, or at a high level of income, but the rate inevitably gets higher and the income threshold lower. It’s a slow form of fiscal suicide.

The taxing Democrats are already at this. The House this week struck from the bill an annual inflation adjustment to the $1 million tax threshold. Instead it will adjust only every other year, capturing only the prior 12 months of inflation. The House also replaced its traditional Seattle consumer price index with a slower-growing national CPI."