This former technology CEO you all know is one of the wealthiest men in the world.
His current state of residence just enacted a massive tax increase.
He is in the process of quickly relocating to one of the most favorable states.
Bill Gates – Microsoft
Jeff Bezos – Amazon
Mega-Rich and Plans to Tax Them Abound in Washington State
Washington state — home to some of the wealthiest people in the world — is a hotbed of proposals to impose higher taxes on the wealthy.
Bills to impose a capital gains tax, a wealth tax on billionaires, or a more progressive estate tax are all circulating in the Democrat-controlled Legislature this session. Proposals to fund and expand tax credits for low-income people are also in the works. The push from Gov. Jay Inslee (D), particularly on a capital gains tax, is giving proponents momentum.
The renewed interest in higher taxes on the wealthy stems from watching fortunes grow while the state scrambles to help businesses and lower-income residents who have lost income during the pandemic. Lawmakers in California, New Jersey, and New York have floated wealth taxes in recent months, with mixed success, and the idea is gaining traction in other countries as well.
“In the midst of this Covid-19 pandemic and economic downturn, we’ve got to ask ourselves who is going to pay for economic recovery,” Rep. Noel Frame (D), chair of the House Finance Committee and author of the wealth tax bill, said. – Source
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