The purpose of this letter is to add my voice to those who support Washington state adopting a progressive state income tax. I am a math teacher and author for the Transition 2030 research project. Today the project has two websites: future4washington.webs.com and transition2030.webs.com. The first website is a presentation in favor of a progressive state income tax.
The Washington State Treasurer’s Office publishes a report each year called the Debt Affordability Study. This report shows that the state of Washington is currently over $20 billion in debt. Each year, the Legislature passes a “balanced budget.” However this budget is “balanced” by borrowing money.
Currently forty-three states place an income tax on individuals. Forty-seven states place an income tax on corporations. One feature of a state income tax is that both individual and corporate state income taxes are deductible from Federal income taxes. In fact, there is no cost or “financial burden” associated with a progressive state income tax to individuals or corporations.
If you have any comments or questions, please try to share them to my e-mail address, email@example.com.