Community Post

Campaign for High Earners Tax kicks off at CD coffee shop

Statewide media filled up the whole shop at SOHO Coffee (a CDNews sponsor) at 20th & Yesler today to hear about the kickoff of a new initiative campaign that would impose a statewide tax on incomes above $200,000 for individuals and $400,000 for couples. Revenue from the new tax would go to lower statewide taxes on property and small businesses, and provide more stable funding for education and healthcare.

SOHO owner Barry Faught spoke and said he supports the new tax because it will remove the burden of the existing B&O tax for small businesses. That tax is based on gross revenue of all businesses, regardless of whether they make a profit or not. He says that’s a tough proposition for small businesses that are trying to stay afloat in the current recession. By contrast, the new measure would only apply to the net income for individuals, excluding the costs incurred in the course of running a business.

The measure would also reduce state property taxes by 20%, saving homeowners an average of $160 a year.

Other speakers at the event included Bill Gates Sr., who has long advocated reforms of the state tax system, and representatives from education, heathcare, and the small business community.

The campaign has until July to collect 241,000 signatures to get the measure on the November ballot, and will use a mix of paid and volunteer signature gatherers to get there.

For more on 1077, see the Seattle Times article from earlier today.

0 thoughts on “Campaign for High Earners Tax kicks off at CD coffee shop

  1. shouldn’t be too hard to get the signatures from people who won’t be getting the shaft.

  2. Once they get this in place for the rich, you think they won’t modify it in two years to get everyone?

    This is the $9.99 introductory plan. Your regular bill will be $999.99 a couple of years down the road.

  3. Right. Don’t trust anyone, because once you give ’em a pinky they take your whole darn hand. oh, that’s never been said before If we continue to live in fear, we’ll continue to remain in gridlock. I say go for it.

  4. It’s so cute that people think this will stay at the 200k and above mark. I am excited to pay more taxes. I am exited to pay an income tax AND a sales tax in a couple of years. Tax evasion will certainly decline from this smart decision.

  5. No way they won’t keep dropping this.

    Wow, a $160 tax cut on my property taxes! Wow, that’ll be taken back in about 15 minutes.

    By taxes are just fine where they are. I don’t want them higher, I don’t want them lower. Vote no or else we’ll be like California: sales, propoerty and income taxes and broke.

  6. This seems only fair if the only people allowed to vote are the high earners affected by this or if we institute an income tax for everyone. Why should the rest of us continue to demand services we do not pay for? It is not for me (who would not be subject to this tax) to demand of others what I am not doing myself.