Tuesday, July 11, 2017

The City that Never Learns: Seattle approves new income tax on wealthy...

Liberals who like to impose tax increases on the rich never consider that they are the most mobile population among us. 
They simply move away to lesser taxed areas.  Bad enough Seattle imposed $15 minimum wage that has resulted in more automation and folks losing their jobs. 

Seattle Times reports the Seattle City Council unanimously approved an income tax on wealthy residents Monday, a move widely expected to draw a quick legal challenge.

The measure applies a 2.25 percent tax on total income above $250,000 for individuals and above $500,000 for married couples filing their taxes together. 

“Seattle should serve everyone, not just rich folks,” software developer Carissa Knipe told the council before the 9-0 vote, saying she makes more than $170,000 per year.

“I would love to be taxed,” the 24-year-old from Ballard testified, drawing applause from a room packed with supporters of the tax.

The city estimates the tax would raise about $140 million a year and cost $10 million to $13 million to set up, plus $5 million to $6 million per year to manage and enforce.

More here

1 comment:

  1. Income taxes always start low and on the highest brackets, then work their way up in cost and down until everybody pays.