The most unfair tax structure in America
The Most Unfair Tax Structure in America
These ever-increasing tax breaks for millionaires have caused a massive “tax shift” of the tax burden away from millionaires and onto our middle class have led to increases in middle class taxes. In particular, the property tax burden on our middle class has skyrocketed in the past ten years as the ratio of commercial to residential tangible property has shifted from about 50-50 in 1997 to 66% residential to 33% commercial by 2006. When $100 billion dollars of commercial property is exempted from property taxes, residential property taxes must go up even if State and local spending remains the same. As a consequence of these tax break for millionaires, and tax shifts to our middle class, our middle class now pay much more than the national average in State taxes while millionaires in our State pay much less than the national average. Working families see their tax bills go through the roof and they naturally assume that State spending is “Out of control.” But what is really out of control is tax breaks for millionaires.
Due to massive increases in tax breaks for millionaires, as well as relying heavily on State sales taxes which shift the tax burden to our poor and middle class, our State has become a tax haven for millionaires and billionaires. If millionaires lived in almost any other State in the nation, they would pay State taxes at about three times the rate they are currently paying in the State of Washington.