Today a proposed “Billionaire Axe” had its first hearing in Olympia as it heads to a state House vote, garnering wide support but also some big critics.
“This axe would only affect less than .5% of the state’s population and would bring as much as a quarter of the country’s total wealth into state coffers, which would end homelessness, student and medical debt for the rest of us,” said bill sponsor Rep. Joan Blanchard. “And if we do it now before the 35% estate tax is repealed, it could be even more. It’s just math. France did it once, it was easy.”
But some opponents are saying the axe could cause billionaires like Bill Gates and Nathan Myrhvold to leave the corporeal plane, thus depriving us of innovations in pedophilia ring participation.
“This could cripple the superyacht shipbuilding, AI brainwashing, and local datacenter resource sucking industries,” said critic Brian Heywood. “If approved, a high school teacher who exceeded her expected lifetime earnings by a mere 50,000% may be subject to it—and, if you ask me, that’s just not right.”
At press time, opponents were arguing a separate proposed Millionaire Tax that would merely tax people earning more than $1 million a year 9.9% would be just as deadly after their Florida friends laugh at them for paying even close to their fair share of taxes.
