The other week, Washington’s chief economist forecast that state revenue will drop by $8.8 billion through 2023. We’ve seen pundits, politicians, and newspaper editors soberly calling for massive state budget cuts since the beginning of this crisis, and it’s inevitable those economically backward demands will only intensify now that there’s a number to attach to their trickle-downism.

I want to be clear: These people are wrong.

In fact, no state is better positioned to invest in a quick and robust recovery than Washington. Our secret weapon? Tax the rich.

Click below to let lawmakers know that you want to jumpstart the economy by taxing the wealthiest people and corporations.

Most states, including all our neighbors, already tax their wealthy citizens. We don’t. But right now, with our economy crumbling in the wake of COVID-19, this weakness can become a strength. Instead of trying to starve our way out of a recession, which history proves only makes things worse, Washington can protect investments in health care; education and other services; provide relief for struggling workers and families; and kickstart our economic recovery by taxing wealthy folks like me – without increasing taxes on 99% of our neighbors.

Some will tell you that this crisis is the absolute worst time to raise taxes on the rich, that wealthy folks like me are the real job creators. But this, too, is wrong. Rather, now is the absolute worst time to slash critical public services and desperately needed government aid. The economy crashed because people had to stay home to flatten the curve of coronavirus infections, which slashed spending and siphoned money out of the economy, closing small businesses and putting people out of work. You and your neighbors, not CEOs, are the real job creators. Cutting support programs and laying off public sector employees will only starve the economy further, causing more layoffs and business closures. 

Through intensive public health investments in masks and other PPE, testing, contact tracing, quarantine, and treatment, we can carefully reopen our economy without inviting wave after wave of infection and death. And with substantial public aid to the workers and businesses most severely harmed by the shutdown, much of our economy could largely pick up where it let off.

Let’s be clear: This will cost money – lots of it – exactly at a time when tax revenues are falling off a cliff. But the question isn’t whether we can afford to do what’s necessary to address this crisis. Of course we can. The question is whether we can afford not to.

Click below to let lawmakers know that you want to jumpstart the economy by taxing the wealthiest people and corporations.

The budget hawks are wrong. We have a choice. Knee-jerk budget cuts are not our only option. If we finally choose to tax our state’s plentiful reserve of income and wealth, we can avoid the painful mistakes of past recessions. We can jumpstart our ailing economy into a quick and broad-based recovery that works for everyone – not just the wealthy.

If you agree, I hope you’ll take the time to contact your lawmakers and demand that they take action by unleashing the secret weapon that will safely jumpstart Washington’s economy: taxing me and my wealthy friends.

Thank you, 

Nick Hanauer