Rather than imposing budgetary restraints and reducing budgets, Democrats promise to fleece the superrich…It is part of an “eat the rich” pitch from liberal politicians and pundits.

Washington State’s unofficial state motto has long been “Al-ki” which means either “bye and bye” or “by and by” in Chinook. The former meaning now seems official as Gov. Jay Inslee pushes for a “wealth tax.” Wealthy citizens are already saying bye to the state in anticipation of what one Democratic billionaire recently called a “boneheaded” move.

“The first $250 million of assessed value is exempted, meaning only the wealthiest people in Washington would pay the tax, including some of the wealthiest individuals in the world.”

The Wharton Budget Model at the University of Pennsylvania found that Warren’s legislation would raise $2.7 trillion in revenue, but it would also reduce capital by 3.1%, depress average hourly wages by 1.2%, and reduce gross domestic product (GDP) by 1.2% in 2050.

https://www.zerohedge.com/markets/rich-abandon-washington-state-governor-pushes-wealth-tax