Speculation has already begun surrounding the recently filed, Bill Gates Sr.-backed Initiative 1077. The push for signatures to get it on the ballot in November has just gotten underway, and people are fired up about it.
I-1077 proposes an income tax on the states wealthiest 3 percent, those who make $200,000 a year, $400,000 for a couple. According to the filed documents, the added revenue for the state would allow for a 20 percent decrease in state property taxes, a bump in the business and occupation tax credit from $420 to $4,800, and would establish a fund “dedicated to funding education...
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