The state wealth tax would collect a 1% property tax from multi-millionaires and billionaires by taxing wealth held in stocks, bonds, and other financial intangible property above $250M that currently remains untaxed by Washington’s revenue system. Only the wealthiest in our state—fewer than 0.01% of Washingtonians—would ever pay. We’re talking private-jet-level wealth here. Successful tech professionals and even pro athletes wouldn’t qualify.
