For decades, the state of Washington has been one of only nine states without a personal income tax. That simple fact helped turn Seattle into a global tech powerhouse and drew ambitious entrepreneurs, innovators, and job creators from high-tax states like California and New York. Women have been major beneficiaries of the freedom no income tax provides. Washington consistently ranks among the top states for women-owned businesses, with female entrepreneurs launching companies in tech, retail, health care, and beyond. These women didn’t succeed because of government programs. They succeeded because Washington let them keep more of what they earned and gave them the opportunity to reinvest it.

Now Washington Democrats want to change the rules for the most successful among us. And history shows exactly where this road leads.

The “Millionaires Only” Myth

SB 6346, or commonly known as the “Millionaire’s Tax” legislation, passed the Washington Senate in February and currently waits for a floor vote in the House. Supporters of this legislation insist the proposed tax is narrowly targeted—“just on millionaires!”—and that 99% of households and small businesses will be untouched. 

However, California, New York, and New Jersey all started with “soak the rich” taxes. Today, those states have some of the highest overall tax burdens in the nation, and their high earners are fleeing in droves. IRS migration data and reports show that, between recent years, high-tax states like New York and California lost billions in adjusted gross income as affluent residents packed up for Florida, Texas, and other no-income-tax states. For the most part, Washington has been a winner in that migration story—until now.

These high earners are business owners, investors, and executives—many of them women—who create the jobs that employ working mothers, fund scholarships, and support local economies. When you tax success at nearly 10% on top of federal rates, federal capital-gains taxes, and Washington’s existing 7% capital-gains tax, you don’t just punish millionaires. You punish the dreams of everyone who wants to build something bigger for themselves and their communities. 

Real-World Consequences for Women and Families

  • Built-in Marriage Penalty: Two single people, each earning $700,000, pay nothing. If they marry, they suddenly owe nearly $40,000 extra. Democrats killed a Republican amendment to fix this issue. This kind of legislation can erode strong families. 
  • Job and investment flight: Pass-through businesses (S-corps, LLCs) are how most women-owned companies operate. Their owners’ personal income will now face the new tax, discouraging expansion and hiring, which is exactly the opposite of what working women need.
  • Slippery slope: In his newsletter last month, Senate Republican Leader John Braun put it plainly, “They left the door open for the tax to expand to include all of us. Even worse, they included a clause in it that prevents you, the people, from overturning it through referendum.”

As of last week, Gov. Bob Ferguson said he would back the Millionaire’s Tax along with free school meals for all Washington public school students, an over-the-counter drugs sales tax exemption, and an expansion to childcare and early learning subsidies.

Washington isn’t broke because it doesn’t tax millionaires enough. It’s facing shortfalls because spending has exploded. The solution isn’t another $3 billion tax increase on job creators. It’s responsible budgeting, cutting waste, and reforming how we fund education and health care so dollars actually reach kids and patients—not bureaucrats.