Wealth Tax Action Alert

Tell Your Lawmakers It's Time to Make The Ultra-Rich Pay What They Owe!

Washington state has the most unfair tax system in the nation, where the poorest families in our state pay at least SIX TIMES more of their share in taxes than the richest. For far too long, a greedy few have been rigging the rules to ensure the ultra-rich never have to pay what they owe. As a result, our state can’t adequately fund the supports and services our communities need to thrive.

But people across Washington are coming together to fix our broken system, address wealth inequality and give everyone a chance to get ahead with a wealth tax.

It's time we demand our leaders make the wealthiest among us pay what they owe.

We Need Progressive Revenue NOW! Subject: We Need Progressive Revenue NOW! Support SB 5486 and pass a wealth tax for Washington
Dear Legislator,

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Dear Legislator,

As Washingtonians, we know that our state is a great place to live, work, and raise a family. And, we know that when we invest together in things like relief for small businesses, direct cash assistance to people, rental assistance, affordable healthcare, and child care, our communities are stronger.

But today, our state revenues fall far short of what’s needed to adequately fund our communities; that’s because Washington’s upside-down tax code is working exactly as designed. Our system continues to allow the wealthiest individuals and corporations in our state to get away with not paying their share in taxes. While all of us pay state and local property taxes amounting to about a 1% tax on the value of our homes every year, billionaires get to grow their Wall Street wealth without paying a dime. The extremely wealthy are able to exploit every available loophole in state and federal taxes to make sure that their tax bill is as low as possible, often paying lower effective taxes than the minimum wage workers their companies employ!

Analysis shows that funding new community investments by raising revenue through progressive taxes on the very wealthiest Washingtonians would result in increased spending in local economies, tens of thousands of new jobs, and stronger overall growth in the state economy. It clearly demonstrates that new progressive revenue is critical to our state’s economic recovery.

The analysis was obtained from the REMI economic model, an industry-standard tool for projecting the impacts of public policy choices. It shows that raising $3 billion annually in new revenue for community investments in Washington state would:

Create nearly 66,000 public- and private-sector jobs in Washington state. More than half (35,142) of the new jobs would be in the private sector, since more teachers, nurses, and other frontline public-sector workers would mean more customers shopping at local businesses like retail stores and restaurants.

Increase consumer spending by nearly $4 billion per year thanks to the boost in jobs and people’s improved financial security.

Increase total state economic output (state GDP) by almost $6 billion per year.

The economic effects of COVID-19 are felt by all of us, but especially our frontline workers, communities of color, and families with low-incomes. It’s only right that those who’ve done well in Washington during this pandemic do right by all Washingtonians, and finally pay their share.

Please prioritize new, progressive revenue proposals this year, including a wealth tax (SB 5486). It’s far past time we ask the wealthiest in our state to contribute more to help kick-start our economy. Together, we can rebuild an economy where all of us, no matter what we look like or where we live, can thrive.

Thank you!

The Economic Opportunity Institute (EOI) manages this page. You can contact EOI at info@opportunityinstitute.org.

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