January 9, 2021

The Business Times: The Wealth Tax Is Going Global

media mention

There’s no income tax in Washington state, home to some of the world’s richest people: Amazon.com founder Jeff Bezos; his ex-wife, MacKenzie Scott; and Microsoft founder Bill Gates and former CEO Steve Ballmer. That’s led to a system that is the most regressive in the US, according to the left-leaning Institute on Taxation and Economic Policy: The poorest fifth of residents pay state and local taxes that add up to almost 18 per cent of their incomes while the top 1 per cent pay an effective rate of 3 per cent. Read more