This is where the wealth tax idea will be presented. Quick summary:

It appears that the State Legislature could institute a wealth tax on intangible assets. Very roughly, a one-quarter of one percent (0.25%) tax on household wealth over $2.0M might raise $1B statewide (based on rough extrapolation from assets held by top 95 through 99 percent of the U.S. population in the 2016 Survey of Consumer Finances). In Seattle City alone, the same extrapolation suggests $124M.