\n<\/p>\n
Washington state\u2019s \u201cmillionaires tax\u201d is a dark cloud hanging over business owners who worry it may also spread to earners who are not millionaires.<\/p>\n
Seattle barber Matt Humphrey, who has locations in Ballard and Roosevelt, expressed<\/a>\u00a0his anxiety over the situation when speaking with Fox News, the outlet reported Saturday.<\/p>\n He said, \u201cThere\u2019s a lot of fear and trepidation with what\u2019s going on in our government when it comes to taxes. This new millionaire\u2019s tax is definitely going to impact us. We\u2019re afraid\u2026 they treat us a bit like an ATM when it comes to paying out taxes as a small business.\u201d<\/p>\n Democrats in the state recently passed the \u201cmillionaire tax\u201d that conservatives opposed, and the Fox article noted the Wall Street Journal<\/em> editorial board deemed it a \u201ccon\u201d that would end up hurting middle class workers.<\/p>\n \u201cThe new tax will impose a 9.9 percent income tax on households earning more than $1 million each year. The tax applies to any money earned after the first $1 million of someone\u2019s annual income. It will take effect on Jan. 1, 2028, with the first payments due in April 2029, KOMO News reported,\u201d the Fox article read.<\/p>\n According KING 5, voters in the state have long opposed<\/a> income tax proposals but Democrats, who are currently in the majority, believe it was needed:<\/p>\n