billionaires

(Runtime 3:30)I’m in Keith Tiegs’ white Chevy Silverado pickup.He’s the eldest son of the late business-powerhouse, Frank Tiegs. We’re seven miles east of…

Washington billionaires would pay a “wealth tax” under a proposal in the state House that will get a public hearing on Tuesday. The bill is sponsored by Democratic state Rep. Noel Frame, who chairs the House Finance Committee, and would impose a one percent tax on intangible financial property, such as stocks and bonds, futures contracts and publicly traded options. A billionaire’s first $1 billion in “taxable worldwide wealth” would be exempt.