Washington: If passed, initiative would raise taxes on rich
Washington is one of only eight states that don’t have an income tax but that could change for its wealthiest residents if voters pass a tax initiative on the November ballot. Initiative 1098 is pitting big names against each other. Bill Gates’ father is the major sponsor of the initiative but the current CEO of his son’s company, Microsoft, is against it. And somewhere between $10 million and $20 million will be spent to sway voters to the idea that taxing the rich is what’s best for the state’s financial woes.