income tax for the rich
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some of THOSE rich people have more money than the city does.
(some have more than the STATE)
I wonder if they could secede from the city if they decided to?
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---from the article---
- The Seattle City Council on Monday unanimously approved a plan to levy a 2.25 percent tax on the income of residents earning $250,000 or more annually. The Council estimates that the tax would bring in an additional $140 million each year.
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The revenue would go toward the city’s housing affordability agenda and carbon reduction goals and supplant federal funds if they are cut. The revenue is also intended to alleviate the burden of Washington’s property and sales taxes, which are often called the most regressive in the country.
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Councilmember Lisa Herbold championed the income tax measure.
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During the meeting on Monday, Councilmember Lorena Gonzalez introduced an amendment that allows some of the income tax revenue to go toward making business taxes less regressive. Despite opposition from Councilmember Kshama Sawant, the amendment passed five to three.
Another one of those hare-brain schemes that will end up costing more than the benefits they hope to gain.
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It's a proven fact - SEATTLE is going to be bankrupt soon.
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they're trying really hard.
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all the rich have to do is move... lol
All they will succeed in doing is driving the rich away!
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true..and leave billions of dollars in property?
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all they have to do is register to vote somewhere else they have a supported residence, where they can also take-in income... get a new drivers license and pay taxes somewhere else... they don't have to leave anything...lol
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This will be great for Issequah and Northbend. (suburbs)
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well that doesnt looks so bad it will be helpful for there future goals
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which goals are that?
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so said the mafia.
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Good story, thanks for sharing.
Please follow me @patricksanlin and upvote. Thanks
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Nice, another reason to move there. I was in Seattle a week ago and fell in love with the place. My wife and I are seriously thinking about moving there.
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go for it.
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I consider it as a great step.... Thanks for sharing
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All these cities are going to be bankrupt soon. Their pension systems gone, state budgets...blowin up...now they'll try to tax their way out of it. Ain't gonna work.
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Great... now more people are going to be moving here.
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