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Guaranteed Human.

On this episode of Neutte World, about eight states, including California, Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York, and Washington have introduced or considered legislation

targeting the wealth of high net worth residents with a, quote, wealth tax.

Now, the state of Washington is facing a budget shortage,

and lawmakers are debating a proposal that would create a nearly 10% annual tax on personal earnings over a million

dollars. Because of the proposed blue state wealth taxes, many high net worth individuals

are moving out of their home states to states like Florida and Texas. To understand this, what I think is an insane policy,

I'm really pleased to welcome my guest, Jack Salmon.

He is a Gibbs Scholar and Research Fellow

at the Mercatus Center at George Mason University,

where he focuses on economic and fiscal policy

with an emphasis on federal budgets, taxation, economic growth, and institutional analysis.

Thank you. Jack, welcome and thank you for joining me on Nutsworld.

Thank you for having me on, Speaker Gingrich.

I appreciate the opportunity to speak about this.

You know, I'm very impressed with the quality of work being done at the Mercatus Center in general at George Mason University. Beyond this high taxation thing, what are your

general focuses as a scholar? So I mostly focus on federal budgets, federal taxation, and spending debts and deficits. So the stuff that's

often quite depressing in the policy space. But I've been paying increasing attention to what's

happening at the state level because I've noticed in recent years, particularly sort of post-COVID

years, that there's been a movement of blue states towards applying surtaxes and additional capital gains,

and now we're seeing proposals for wealth taxes on high earners.

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