The city of Seattle passed a new ordinance on May 14th supposedly to deal with their homeless issue, when the real problem is their building code which limits building heights - sounds a lot like going after the rich to subsidize the poor. Amazon has already suspended construction to expand because of this tax and many other businesses are looking to leave. Coupled with the minimum wage effort to increase to $15 per hour, it appears as if the city is committing suicide.
Details of the new tax
More than 500 businesses would be subject to the tax, which is about 3 percent of the city’s companies. It would apply to companies making more than $20 million annually in gross receipts.
Businesses would be taxed roughly $275 per employee / year.
The head tax will sunset in 2023. It could be renewed by the council at that time.
The tax is expected to raise $47 million annually.
The head tax could be implemented as soon as 2019.
Seattle leaders said Monday that they plan to repeal a tax on large companies like Amazon and Starbucks as they face mounting pressure from businesses, an about-face just a month after unanimously approving the measure to help pay for efforts to combat a growing homelessness crisis.
The quick surrender showed the power of Amazon to help rally opposition and aggressively push back on taxes at all levels of government, even in its affluent home city where the income gap is ever widening and lower-income workers are being priced out of housing. It has resulted in one of the highest homelessness rates in the U.S.
It seems odd to me that cities moan and cry about low wages (think Seattle legislating the highest minimum wage in the country) and then moaning and crying about high wages. What DO they want (besides access to the pocketbooks of everyone in reach)?
by rlaframboise 14 years ago
Do you think Obama actually believes in the merit of the Constitution or do you think that he thinks that the chains i places on the Federal government are a bad thing?I for one think he would love to see a purely national government with absolutely no limitations on what it can do to...
by ga anderson 4 years ago
I have only what the media has presented as information. But what the hell . . . It seems the city of Seattle has ceded a section of the city to anarchists/protestors.The Right-wing media is also promoting that the Mayor of Seattle is talking with these people as serious participants.Apparently a...
by Dennis L. Page 12 years ago
Do tax breaks for the rich really create jobs?Nick Hanauer, a venture capitalist states consumers create jobs and not the wealthy. He claims the rich only hire if consumers are buying goods and products and that there are not enough wealthy to support our economy. He says, "If it were true...
by RickBurnett 14 years ago
If you were president, what would you do to create jobs?
by promisem 9 years ago
1) Their governments are heavily influenced by multibillionaires.2) Those billionaires hide their assets and underpay taxes.3) Both governments spend more than than receive anyway to appease the lower classes.4) Both countries are heavily in debt.Agree or disagree?
by Brian 9 years ago
This is not a current tax, or one that is planned, this is my own idea. (United States)I am just curious if you would favor a 5% national sales tax if the money from that tax went back to the people, in the form of bi-annual stimulus.1% of the tax would go to the people. That tax would be...
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