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Seattle income tax on wealthy residents clears City Council committee

JayDubya

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#1
Seattle income tax on wealthy residents clears City Council committee

http://www.seattletimes.com/seattle...lthy-residents-clears-city-council-committee/

The Seattle City Council’s finance committee Wednesday approved a proposed income tax on high-income households, teeing up a full council vote July 10.

The tax would be 2.25 percent of total annual income, above $250,000 for individuals and above $500,000 for married couples filing jointly.

When the tax was proposed last month, the rate was set at 2 percent. The finance committee increased it to 2.25 percent last week.

The city estimates the tax would raise $125 million per year. According to a City Hall analysis, it would cost $10 million to $13 million to set up and $5 million to $6 million per year to administer and enforce.

Proponents say it would make Seattle’s tax structure more fair and they want to test the legality of an income tax in Washington state. Neither the state nor any Washington cities currently collects an income tax.
 

Professur

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#3
City income tax?
 

Bottom Feeder

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#5
The fecken jerks! They've been trying for years to get an income tax passed in Washington. Now the bastards gonna pass an ordinance and shove one down our throats.

"above $250,000 for individuals" — yeah, just to get the camel's nose in the tent. And "test its legality" — bullshit! Once it passes the state courts test, it's off to the races with a statewide income tax. Gimme a HOO—RAH! Just what I need: more taxes.

Let’s build some more tunnels and turn a few more roads into bicycle lanes.

BF
 

Aurumag

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#6
Tax the Elites, until they all move away
then tax the shit out of what's left

The populace should be compliant by then, dontchathink?
That pretty well sums up my interpretation of the final paragraph:

"Proponents say it would make Seattle’s tax structure more fair and they want to test the legality of an income tax in Washington state. Neither the state nor any Washington cities currently collects an income tax."
 

smooth

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#7
There goes the Constitution

oh, waitcool:
An income tax has been proposed several times before and shot down by the States SC. But Seattle is banking on a new bench full of progressive judges to to spin it in their favor this time. It's guaranteed to go in front of the SC again as it violates the State's constitution, but these fruity fucking socialists are hell bent on thieving every dime they can, and the average Seattle citizen thinks it's wonderful. I would say fuck'em, tax them till they wither away except, as Seattle goes Olympia soon follows. All of this following Sound Transit's historically massive (and illegal) tax that the was recently voted in.
 

andial

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#8
Most people making that kind of money are employed by the government anyhow so feck em.
I include those in the banking and insurance and pharma business as government employed.
 

Buck

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#9
In Living Color Gentlemen

and it's not going to be a good ride down

DYODD but, we're now entering some uncharted waters and I'll suspect some of the populace can't swim
 

Agavegirl1

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#10
There are a number of cities with an income tax and it is NOT refundable. I can prepare taxes for all 50 state, DC and Puerto Rico. I get a few clients every year who have Missouri city tax withheld. Reportable, yes. Refund because you moved? No. You earned it there, you pay it. The end. It's not just Missouri but that is the one I most often see.
 

Alton

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#11
Indiana has state income tax AND a county "option income tax", as if a county will pass on the opportunity to tax...
 

nickndfl

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#12
No state income tax in Florida. We pay property and sales taxes, but the lack of an income tax creates a massive shelter for retirees.
 

wallew

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#13
This type of income tax occurred in Cali several years ago. At least in SOCAL it did.
 

southfork

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#14
Taxes never go down, they only go up, when Jersey started their income tax it was to give people property tax relief , what a farkin joke that was, used to live in South Jersey, taxes on house were around 2200 over 17 years back, same house would now be over 6500k plus another 5/6k for the state income tax. the only relieving was the money from the taxpayers pockets and the state is still broker than ever.
 

nickndfl

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#16
That's what happens when bureaucrats are in charge of budgeting and spending. If it was their money they would be more frugal unless they were minorities. The blacks love to make it rain until they are bone dry.