Washington's new millionaire tax: What the 9.9% rate means for high-earners

AI Briefing

• – Lawmakers propose a 9.9% tax on millionaires, sparking debate over fairness and economic impact.
• – The tax would apply to individuals with net worth above $1 million and income exceeding $250,000.
• – Opponents argue the tax could deter entrepreneurship and investment, while supporters see it as a necessary step to fund social programs.