We’ve been told that there are only two things in this world you can really depend on; death and taxes. One we dread, but know is coming and the other we run from like the plague and do everything possible to avoid every single spring.
Many people have proposed alternative systems for our current tax plan, but rarely do they see the light of day. In general, the conservative law makers think taxes should be lowered (you know, let people keep the money they earned fair and square) and the liberals always have a great reason why it should be raised.
The newest plan for raising taxes in the state of Washington is probably going to raise some tempers as well. The city of Seattle plans to make an extra tax, but only for the successful.
Via Fox Business:
Under a proposal being considered by the Seattle City Council, only the top earning residents would be subject to the income tax – those individuals with incomes in excess of $250,000 and those filing jointly with incomes in excess of $500,000 would pay a 2.25% tax.
Supporters of the new tax say the city’s explosive economic growth and prosperity has created significant wealth and opportunity, but it has also exacerbated the affordable housing crisis that has put a strain on those in lower income brackets.
“State tax reform is urgently needed so our lowest-income residents pay less, our middle-class neighbors pay about the same, and our highest-income residents pay more,” Councilmember Tim Burgess said in a statement Wednesday after the proposal advanced out of his finance committee.
So basically what they seem to be saying is that since the city is doing so well, and the economic growth has been going so great, they want to make it less attractive for those terrible wealthy capitalists to live there. It’s so terrible that businesses and individuals are succeeding in a city that is so pro-socialism that they’re willing to do something that many of their council members consider to be illegal, just to even the playing field.
I’m not sure if anyone noticed lately, but it’s not any government’s job to get involved in this sort of thing. They’re around to take care of just a couple of things; namely public transportation, law enforcement and maybe a few happy things like parades and the like. Offing basic necessities to those in need is fantastic, but going overboard to the point where you look around at your wealthy citizens and get ticked off that they have more.
If the principle of taxing what you want to discourage and subsidizing what you want to encourage holds true, Seattle won’t have to worry about its explosive economic growth for much longer. Their socialist policies will make sure that they attract the worst and the dimmest so that they can enjoy the handouts.
(Source: Fox Business)