A "millionaires tax" was signed into law in Washington state this week, and one wealthy Washingtonian is celebrating.
"In 2029, Washington state will start collecting a 9.9% tax on income over $1 million," travel writer Rick Steves wrote in a social media post. "The 8,000,000 Washingtonians whose households make less than a million dollars a year will pay zero under this new tax and enjoy all the benefits of a better-funded state. And for the wealthy (like me and an estimated 30,000 others), every million dollars in taxable income that our households earn after the first million will cost us about $100,000."
