it costs $13MILLION to RAISE TAXES??and $6MILLION a year ON TOP??? ya gotta be sh!ttin me,,,
Posted on 07/10/2017 3:48:41 PM PDT by BackRoads775
The Seattle City Council unanimously approved a pioneering new income tax on wealthy residents Monday. A a legal challenge is widely anticipated.
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.
The city has estimated the tax will raise about $125 million a year and cost $10 million to $13 million to set up, plus $5 million to $6 million per year to run and enforce.
The council’s finance committee cleared the tax last week, increasing the rate from 2 percent to 2.25 percent.
(Excerpt) Read more at seattletimes.com ...
Hey Seattle.....
Look @ my thumb
The State has no income tax. I think this will be shot down by the end of the year.
Hip hip hooray for them. Now they can channel money from n’er do well rich guys to give deserving street addicts even more free drugs. I’m sure you’ll agree that junkies are the worthiest of causes. How can those big mean mostly white men object?
Freaking geniuses over there.
First the garbage police.
Then, the $15/hr min wage.
Now the income tax.
We on the east side of the state look on them with wonder and amazement...
...and thanks that they are on the other side of a mountain range.
a dumb “law” for many reasons
1) This is unconstitutional per the state constitution and many court rulings testing income taxes
2) Applies to Seattle residents only, not those working in the city limits who live outside of the city
3) needs some means of getting income data from IRS or tax payers.
4) the likely court test is all part of a larger, ongoing push to make an income tax state wide (constitutionally, we only have a sales tax now and they want BOTH).
So many states have these liberal black holes that just suck the life force out of them.
More likely $125M to enforce and raise $5M annually. If it sticks.
Municipalities can now levy income taxes? By what authority?
Maybe they should consider a “Bill Gates Tax.” Hey, Bill how much you got? Thanks!
F Seattle.
Take all of Bill Gates’ money
it costs $13MILLION to RAISE TAXES??and $6MILLION a year ON TOP??? ya gotta be sh!ttin me,,,
When they realize that their beloved UN considers any one with more than $10,000 in income a year as very wealthy, and still others consider anyone with change in their pockets as rich, the bar will lower fast. And, please, the last one in Seattle turn off the lights ...
I don't know if you are specifically talking about Washington State, but many states have city income taxes. I live in Ohio and almost every city has an income tax (I have to pay 2-1/2% of every dollar I make to the city in which I work).
Hey, Seattle commies, KMA!
The elitist version of
“Hold muy beer n’ watch this!”
What could possibly go wrong?
Doesn’t New York City have an income tax as well as Chicago? Just asking.
If the state does not prohibited it, a city can do just that. The New York City has a city income tax I believe.
NYC or NY residents please verify.
It’s amazing how regulations and laws advance technology. Just the threat of minimum wage increases has caused the automation of jobs that would never, ever have been automated without government interference.
With increases in technology there will come a time when companies have very few brick and mortar buildings and those they do have will be in tax havens. Employees and contractors will telecommute from places that are lower tax. Another innovation is doing away with traditional employees entirely. A time will come when a company has a core of people who absolutely must be employees and the rest will be at-will contractors. We are approaching a time when practically everybody will be a “consultant” whether they want to be or not. Thanks, government.
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