Mount Vernon Millionaire Backs Proposed State Income Tax on the Wealthy

Victoria Hattersley, a 70-year-old millionaire residing in Mount Vernon, Washington, has publicly expressed her support for a proposed state bill. The legislation aims to implement a 9.9% tax on income exceeding $1 million annually. If enacted, this tax would commence in 2028, with the first payments due in 2029.

From Hardship to Wealth

Hattersley's personal financial journey began without affluence. She experienced periods of financial hardship, including relying on food banks. She ultimately achieved her wealth through a career in AIDS research and the pharmaceutical industry, primarily via stock options and investments.

On Wealth, Luck, and Fair Share

Hattersley holds a distinctive view on financial success.

Financial success is not solely dependent on hard work but also involves an element of luck, challenging the idea that everyone can achieve wealth through sheer effort alone.

She firmly believes that individuals should contribute their fair share of taxes.

She highlights that Washington state's current tax code disproportionately affects lower-income residents. The proposed legislation, she notes, would impact less than 1% of the state's population.

Addressing Inequality for a Healthier Society

Hattersley argues that a healthier society emerges when individuals have access to necessities like healthcare and childcare. She believes this access can, in turn, lead to increased productivity and tax revenue.

Excessive wealth inequality creates social, cultural, and economic instability, deeming it dangerous for society as a whole.

She asserts that addressing wealth inequality is crucial for the entire country.

A Call for Economic Stimulation

As a volunteer in civic engagement and with the organization Patriotic Millionaires, Hattersley believes the proposed tax could help stimulate the economy. She suggests it would achieve this by providing tax relief and support for small businesses.