Part 10/12:
High taxes and expensive living costs are prompting wealthy individuals and major corporations to relocate. Jeff Bezos, for instance, sold his property in West Bellevue and moved to Florida, citing lower taxes and lower costs of living. This trend of exodus threatens Washington’s long-term economic vitality, especially as tax revenues continue to decline.
The state’s political leadership remains committed to high-spending policies despite mounting financial and economic pressures. Governor Jay Inslee, for example, recently signed into law the largest tax increase in Washington’s history, further risking an environment that could become inhospitable for business and wealthy residents alike.