Bob Ferguson now backing a Washington state tax on millionaires, the simultaneously timely and timeless issue of millionaire migration — i.e., millionaires migrating out of higher tax states — has bubbled to the surface in recent policy and public discourse in Washington state. To the extent that folks on both sides of the aisle care what the best science has to say, here’s an important way to think about this issue:First, millionaire migration isn’t really a thing. Second, the focus on millionaire migration misses a larger and much more important point. As such, millionaire migration reflects the lack of political willingness to adopt and coordinate progressive tax structures within and across states. Naturally, progressive tax structures raise subsequent questions about the appropriate level of taxation for millionaires.

Source: The Herald January 31, 2026 09:35 UTC