New brief: I-645: Repealing the State Individual Income Tax
A 9.9% tax will be imposed on Washington income over $1 million beginning Jan. 1, 2028. Initiative 645 would repeal the income tax and prohibit any state or local taxes on individual income. I-645 would reduce revenues for funds subject to the outlook (NGFO) by $3.108 billion in 2027–29 and by $8.324 billion in 2029–31. […]
16th of August 2017
Tax Foundation says the rich in America didn't pay significantly higher taxes in the 1950s
Recently The Tax Foundation looked into the commonly held belief that rich Americans used to pay much higher income taxes in the 1950s than they do today. It found that the difference between then and now isn’t actually that significant: The data shows that, between 1950 and 1959, the top 1 percent of taxpayers paid […]