New 9.9% “Millionaires Tax” — Could It Expand Over Time?

Washington’s new “millionaires tax” sets a 9.9% rate on income above $1 million — but the debate is just getting started. Supporters say it targets high earners, while critics argue similar taxes can expand over time to affect more taxpayers. 📊 Key points: 9.9% tax on income above $1 million Applies to high-income households Ongoing debate about long-term impact Comparisons being made to other states like Idaho The discussion raises broader questions about how tax policies evolve — and who they eventually impact. 👉 Will this tax remain limited to top earners? 👉 And how do other states compare? #tax #economy #washingtonstate #news #shorts #policy #costofliving #finance #usa #debate