Posted on 07/06/2020 10:00:21 AM PDT by Zenyatta
After years of trying to mine the wealthy around here, and instead hitting themselves in the face, the Seattle City Council has finally fixed on a potent way to tax the rich.
Seattle’s latest corporate tax scheme will almost certainly run into some familiar obstacles, such as a skeptical mayor and a possible legal challenge from big business.
But politically, this one is nothing like the failures of the past.
It’s the work of Council member Teresa Mosqueda, and the premise is simple enough: Instead of tilting at windmills to try to tax wealth or high incomes, which is legally questionable in our backward state, this plan instead puts a levy on high employee salaries and compensation packages.
(Excerpt) Read more at seattletimes.com ...
How is that sugar tax working out?
I guess the Seattle exodus is not fast enough for them.
This should speed things up.
The donut hole city model is returning.
After the 60’s riots, people & businesses moved out of the city into the suburbs, leaving the city center a husk of its former self.
Some cities, like Detroit, never recovered. Others, after a few decades, did.
Now the donut is back.
Posted on 7/6/2020, 8:37:18 AM by Brookhaven
“...but what is wrong with a simple income tax for wages earned within the city limits...”
Everything.
I moved from Seattle to KY. That is from a “no income tax” to “income tax” state. The good news is that the property taxes are absurdly low, as is the sales tax, and they don’t tax SS - and I’m about to retire. So it’s very nice.
I hail from eastern Washington and have always been partial to the desert, though. My wife and I did a circumnavigation of the western US for our honeymoon and absolutely loved it. We blew out our radiator in the MOAB, but discovered the miracle of JB weld. :)
So because they can’t tax high incomes, they want to do a levy on high salaries and comp??? Wha??? Paging Noah Webster....
I lived in the Seattle area for 5 1/2 years. The only part I miss is the Metropolitan Grill on 2nd and Marion. Oh, what a feast. I can still taste the beef.
Other than income taxes are constitutionally illegal in WA State, and we have been fighting proposals to try to cram one down our throats every 2 years for the last 40. Nothing I guess.
Washington has sales taxes
Interesting how Harpers Ferry home prices keep going up.
Higher taxes on business owners which lowers productive expenditure also decreases demand for labor which has a negative effect on average wage rates and the standard of living of the average worker.
When I first read this, I thought it said "Torquemada" ...
I miss the bicycle commuting before cell phones made it too dangerous.
You haven’t lived until you leave the office near pike and second, surrounded by tired workers and busses, take that long coast down second avenue, hit the I-90 trail and on to the east side. Occasionally I’d bike up to capital hill or the U-district first just for fun. It’s like being a kid.
But cell phones and texting put the nix on it and allowed me to continue living.
I didn’t have any favorite restaurant. I had a lot of “favorites”.
And the last time I rode the elevator to the top of the space needle it cost me a buck. :)
Tax the rich, to feed the poor
till there are, no rich no more
So sang 10 Years After.
“....... tax wealth .......”
You build wealth or destroy wealth. So they are going to destroy wealth.
No one is un those buildings right now and this will quicken their abandonment. I see a future trend where small rural towns become “headquarters” for large organizations.
What is the point of paying huge rents and now taxes just because of a zip code.
Nobody expects the Seattle Imposition.
If they start having trouble filling positions in cities like Seattle, a lot of work could become 100% remote.
But look how well things worked out by taxing and taxing Boeing. Keep in mind the intent is the economic destruction of capitalism and the United States. World wide communism can’t exist with the economic power of the U.S. therefore it must be destroyed. They, Democrats, are doing it one city/state at a time. Look around and what do you see from Democrats management of anything.
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