income tax for the rich
......................................................................................................................................................................................... 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.
