A millionaire’s tax is a simple way to address inequality: it would ask people making over 1 million dollars a year to chip in a little more so everyone can benefit from better services and a stronger Hawaiʻi.​​

The millionaire’s tax would add a 1 percent surcharge only on income above 1 million dollars. So if someone earns 1.2 million dollars, the extra tax applies just to the 200,000 dollars over the 1 million mark, adding 2,000 dollars to their tax bill. Anyone making under 1 million dollars in taxable income would not see any tax increase at all, which means everyday workers and middle-class families are protected.​​

Other places, like Massachusetts, have already passed similar “fair share” or millionaire’s taxes and are raising a lot of money for schools, transportation, and other public needs without hurting their economies. A Hawaiʻi millionaire’s tax could bring in tens of millions of dollars each year to help pay for affordable housing, better schools, healthcare and kupuna services, and climate resilience projects. By asking the richest 1 percent to pay a bit more on just their highest earnings, Hawaiʻi can build a fairer tax system and a more secure future for everyone who calls this place home.