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Podcast: News For Reasonable People
Episode: Socialist Seattle Mayor Katie Wilson Promises more TAXES on BUSINESSES & WEALTHY
Description: Seattle Mayor Katie Wilson is proposing new taxes on big businesses and wealthy individuals to address a projected $140 million budget shortfall in 2027. These proposals include expanding the JumpStart payroll tax and implementing a local capital gains tax. However, concerns are rising that these taxes could incentivize companies like Amazon to relocate jobs to neighboring cities like Bellevue, which already houses 15,000 former Seattle-based Amazon employees. The Downtown Seattle Association reports a downtown office vacancy rate exceeding 30% due to the city's aggressive tax burden. Wilson acknowledges the need for Seattle's tax environment to be competitive but hasn't explained how to retain...