"The Seattle City Council on Monday approved adopting a new tax on large businesses, two years after the council repealed a big business tax amid pressure from corporations such as Amazon and the prospect of a voter referendum.
The new tax called “JumpStart Seattle,” from lead sponsor and council member Teresa Mosqueda, will target companies with many highly paid employees, whereas the 2018 “head tax” would have applied to all employees at large companies.
The council voted 7-2 on the measure, which is expected to raise more than $200 million per year. The tax repealed by the council in 2018 weeks after it was adopted was expected to raise $47 million per year.
Mosqueda and council members Lorena Gonzalez, Kshama Sawant, Tammy Morales, Lisa Herbold, Dan Strauss and Andrew Lewis voted for the new tax Monday. Alex Pedersen and Debora Juarez voted against it. In last year’s council elections, five candidates defeated opponents who were supported by big business groups.
“This is a huge win,” Mosqueda said. “This is about caring for Seattleites now and into the future. It will help Seattle survive the crisis of COVID and emerge stronger and more equitable.”
Under the new tax, companies with annual payrolls over $7 million will be taxed based on their pay to employees making over $150,000 per year. As amended in committee last week, the tax rate would range from 0.7% to 2.4%, with tiers for various payroll and salary amounts." Seattlemedium.com
Kshama Sawant (a member) stated after the vote that "this is a wonderful opportunity to begin the destruction of the United States and its replacement by a socialist world state." Well, pilgrims, she should get high marks for honesty.
It is apparent that the City Council does not credit the idea that these companies will simply move away. Texas or some other tax haven would seem possibilities. Would there be any benefit in moving to western Canada?
It seems that what we are watching is a lot of children playing with big people toys. How interesting. pl