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Seattle's once-booming economy will soon be demolished by city's tax-addicted progressives
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Seattle’s once-booming economy is struggling because of the coronavirus pandemic. This problem is not unique. But unlike other cities, Seattle’s tax-addicted progressive leaders are recklessly increasing taxes at a time when businesses and individuals can least afford them.
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This will kill the Emerald City.
Far-left Democrats are in total control of the City Council and mayor’s office. Add the Council’s two Socialists into the mix and Seattlites got used to reliably anti-business legislation. But then a pandemic hit, threatening the prolonged economic boom and the businesses they’ve used to bankroll city initiatives.
When Amazon announced the vast majority of their 60,000 Seattle-based employees would work remotely, the economic pain was immediate. Over 100 businesses in Downtown Seattle have already closed permanently, with restaurants hit especially hard without a steady stream of Amazon employees coming in.
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You’d think these impacts would quell the urge to tax and spend. No such luck.
The irredeemably left-wing Council reacted swiftly with legislation dubiously-titled “JumpStart Seattle.” Its intent wasn’t to jumpstart the economy but fund housing and nebulously defined initiatives for communities of color.
The tiered payroll tax targets roughly 800 big businesses, though it was also a blatant attack on Amazon. Indeed, Socialist City Councilwoman Kshama Sawant proudly calls it an “Amazon Tax.” The Council argued that the businesses that will pay the tax can afford it — even in a pandemic.
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The Council previously targeted Amazon with a head tax in 2018. At the time, Amazon successfully pushed back and threatened to end expansion in the city. This time, Amazon reacted swiftly. They announced they’d shift 10,000 jobs to nearby Bellevue, Wash. (on top of 15,000 they previously promised). They also declined to renew an 180,000 square foot office lease in the heart of Seattle.