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Seattle Makes History – Passes ‘Tax The Rich’ Income Tax

Seattle Makes History – Passes ‘Tax The Rich’ Income Tax
Above Photo: Kshama Sawant addresses a crowd of “tax the rich” supporters outside at a rally before the vote. “When we fight, we win” – Kshama Sawant Today, Seattle passed a “tax the rich” income tax by a vote of 9-0. The ordinance plans to tax those with a total income in excess of $250k (single) and $500k (joint filers) at 2.25%. Based on 2014 IRS data, the city estimates it will be able to raise approximately $125 million a year, while ... Read more