Just Trust Us
An editorial in Sunday's Columbian, urging voters to reject I-1098, talks about trust. The income tax proposal is written to apply to individuals making over $200,000 (and married couples making over $400,000); consequently, supporters are selling it as being a tax on the rich only. But the Columbian isn't buying it: Oh, but the measure […]
August 30 , 2010 - Emily Makings
"It's Going to Be a Bumpy Ride"
On Friday, Washington State Wire ran a story on the volatility of the income tax on high earners that is proposed in Initiative 1098. No matter what you think of the merits of an income tax per se, this particular proposal is untenable — especially given Washington’s current budget situation. Erik Smith writes, High earner […]
August 20 , 2010 - Emily Makings
Taxing the Rich
A Forbes.com article from yesterday looks at how the federal government and some states are considering increasing taxes on the wealthy. It includes a discussion of Initiative 1098 in Washington. This and other articles on the initiative (see Dick Davis’ recent post for some examples) highlight some of the negative consequences I-1098 would have on […]
July 16 , 2010 - Emily Makings
Update: Comparative State and Local Taxes
The Census Bureau recently released the latest statistics on state and local taxes as part of its 2008 Survey of Government Finances. For 2007/2008, we have calculated that the per capita tax burden on the average Washingtonian was $4,354, while the amount of tax revenue collected per $1,000 of personal income was $105.49. Washington ranked […]