KGMI News
SEATTLE, Wash. (AP) – Two Seattle City Council members are rolling out their income tax proposal.
Kshama Sawant and Lisa Herbold want a 2% tax on income of more than $250,000 for single filers and $500,000 for joint filers in Seattle.
People testified for and against the proposal Wednesday night.
“The rich get the benefit of their ownership, they set the prices in the stores, they set the cost of renting and leasing, they squeeze the middle class…”
“The legislation reads like a bitter response to a fair election that did not go your way. This is 5th grade caliber stuff.”
It’s expected to generate about $125 million annually, from just 5% of residents.
Opponents say it be will be struck down in court.
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