Across the country, Democrats are moving forward with millionaire taxes to tap wealthy taxpayers to address budget shortfalls. We have previously discussed how such wealth taxes are unconstitutional (in my view) in the federal system. However, state constitutions have been interpreted to allow such taxes. More importantly, there is no constitutional barrier to imposing huge increases in income taxes on wealthy taxpayers. That is what just happened in Washington as Democratic legislators seek to reproduce the exodus of wealth from California. Continue reading “Washington Moves to Replicate the California Exodus with Millionaires Tax”
Across the country, Democrats are moving forward with millionaire taxes to tap wealthy taxpayers to address budget shortfalls. We have previously discussed how such wealth taxes are unconstitutional (in my view) in the federal system. However, state constitutions have been interpreted to allow such taxes. More importantly, there is no constitutional barrier to imposing huge increases in income taxes on wealthy taxpayers. That is what just happened in Washington as Democratic legislators seek to reproduce the exodus of wealth from California. Continue reading “Washington Moves to Replicate the California Exodus with Millionaires Tax” 
















