Seattle Mayor Katie Wilson dismisses millionaire departures over new progressive taxes
Updated
Updated · Fox News · May 8
Seattle Mayor Katie Wilson dismisses millionaire departures over new progressive taxes
15 articles · Updated · Fox News · May 8
At a Seattle University event, Wilson laughed off concerns as Washington's new 9.9% tax on household income above $1m, signed on 30 March, is due from 2028.
The report says critics warn wealthy residents and companies could leave, citing Howard Schultz's move to Florida and Starbucks' plan to invest $100m and add 2,000 jobs in Nashville.
It also highlights legal and political challenges, noting Washington's constitution has long barred progressive income taxes and opponents say the measure could widen beyond top earners if upheld.
As Seattle's new taxes push millionaires to leave, who will ultimately pay for the city's progressive promises?
Seattle is betting billions on a tax that challenges a century-old law. What happens if this high-stakes legal gamble fails?