It seems that the Legislature of Washington State, when it passed its “Millionaires Tax” this year, inserted a bunch of little time bombs for their Public Employee Unions. The Teachers Union is the largest supporter of Democrats at all levels of government, and they have a huge weight to throw around. They allocate the millions of dollars in dues they collect from teachers to Democrat political campaigns 100%. I wonder what they will say when they discover what is included in the Millionaires Income Tax bill. That “millionaire” part of the tax is actually a one million dollar “Exemption” for each Household (not each wage-earner) before the 9.9% tax applies. The legislature has already stated in plain English that, once the tax takes effect in 2028, at their next session they will vote to lower the exemption to something like $100,000, which means that most two-earner households will be subject to the tax.
The time bombs mentioned above are individual clauses in the tax bill that apply the Income Tax to the Retirement Plans of all Public employees. There is a separate clause, mentioning every single public employee retirement fund (each group has their own account) as being subject to income taxation. I’m betting that those public unions didn’t see themselves as having to pay that tax, only the amorphous “millionaires” in Washington. THEY would benefit from the taxes that YOU pay (all your wages and pension income are covered under the new tax). Here’s what happens. Emphasis mine.
Did you know???
Your retirement account is now on the tax menu and Olympia is hungry
Thread 1/13
Previous WA state law specifically exempted retirement money from taxation and other state confiscation.
“Subject to subsections (2), (3), and (4) of this section, the right of a person to a retirement allowance, disability allowance, or death benefit, to the return of accumulated contributions, the retirement, disability or death allowance itself, any optional benefit, any other right accrued or accruing to any person under the provisions of this chapter, and the moneys in the fund created under this chapter, are hereby exempt from any state, county, municipal, or other local tax and shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or any other process of law whatsoever, whether the same be in actual possession of the person or be deposited or loaned and shall be unassignable.”
However
The new WA state unconstitutional income tax explicitly names and eliminates that exemption effectively repealing the protection— the legislature amended eleven statutes and add a sentence to each one.Not one single newspaper (looking at you Seattle Times) has covered this in any detail whatsoever….
Read the actual RCW wording and find the link yourself below for each of the individual retirement plans.
Taken from all of the sub-sections of the above post, here is a list of all the public employee retirement pensions that are brought under the Income Tax.
RCW 41.40.052 — Public Employees’ Retirement System (PERS)
RCW 41.32.052 — Teachers’ Retirement System (TRS)
RCW 41.37.090 — Public Safety Employees’ Retirement System (PSERS)
RCW 41.35.100 — School Employees’ Retirement System (SERS)
RCW 41.37.090 — Public Safety Employees’ Retirement System (PSERS)
RCW 41.34.080 — Plan 3 Retirement Accounts (PERS/TRS/SERS Plan 3 self-directed)
RCW 2.10.180 — Judicial Retirement System
RCW 2.12.090 — Judges’ Retirement Fund (older, closed system)
RCW 41.24.240 — Firemen’s Pension Fund
RCW 41.44.240 — Retirement Systems Reciprocity (older municipal plans)
RCW 43.43.310 — Washington State Patrol Retirement System (WSPRS)
And, if you were worried about your private retirement pension coming under the new income tax:
Private-sector retirees never had that named protection to begin with; they were always going to be swept in under ordinary AGI the moment any WA income tax existed
This is almost delicious. ALL the Public Employees, most of whom produce NOTHING, will have to pay the same state Income Tax as everyone else, including present retirees, and future retirees from state government. It even will include the Supreme Court Justices who will have to totally ignore judicial and legislative precedents to approve the unconstitutional income tax when it comes before them next year, if it is not repealed by the People in the November election (VOTE YES ON I-645)!
So, Washington State Residents, if you know any teachers or any other government employees, you should mention this to them, and let them know that their Union Bosses are supporting this Income Tax that will hit them all, no exceptions. It’s not just MILLIONAIRES, it’s EVERYONE who will pay 9.9% MORE of their hard-earned wages and pensions to the greedy Democrats in Olympia.
So, if you don’t want to keep paying higher and higher taxes, and the new unconstitutional income tax, and you want to keep your Liberty…
Calling-all-RushBabes 