Summary
Some U.S. states are considering or have implemented higher taxes on people with very high incomes. The goal is to increase taxes for those who earn over $1 million a year in certain states.
Key Facts
- Chuck Collins, who inherited money from the Oscar Mayer company, supports higher taxes for the wealthy.
- Massachusetts has a higher tax rate for incomes over $1 million.
- Other states like California, Maryland, Minnesota, and New Jersey have adopted similar tax policies.
- Washington state, which currently does not have an income tax, is considering a new tax for millionaires.
- Lawmakers are working on measures to increase taxes for the rich in these states.
