by: Brent Smith at the Common Constitutionalist
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You may have heard of the new tax being levied on companies in the Seattle area. IBD reports that the Seattle Politburo (city council), “unanimously passed a ‘head tax’ of $275 per full-time worker on any company in the city that makes more than $20 million in gross revenues. The city says the $48 million in new taxes will go toward affordable housing and providing emergency services for the city’s swelling homeless population.”
Allow me to translate. The $48 million in new taxes will go toward, but not quite make it to its final destination. Oh, some of will be used to build “affordable housing” and provide “emergency” services, but a good percentage will likely be siphoned off and spent on increasing the size of the Seattle bureaucracy and increased regulation. It’s what liberal statists do. They see a pile of money and recklessly spend it. They also regulate, to the point of strangulation. It will be déjà-vu all over again. read more
by: the Common Constitutionalist:
Obama and the left love to travel the country making soap-box speeches bemoaning income inequality, yet right under their collective noses is a dichotomy of two vastly different economies in the District of Columbia. One is populated by “the connected”, thriving in well-paying information and government jobs. The other is for people scrambling for even low-paying work.
We should be disgusted with that. Every high paying job in the DC area is attributed directly to government payroll or to servicing our bloated overseers. We all know this, and so do they in the “public sector,” but I’m sure they’ve convinced themselves, or been convinced, that their work is so essential, that they are the best and brightest, and therefore should be paid like kings.
According to the analysis by the DC Fiscal Policy Institute, “the top 5 percent of households in the District averaged $473,000 a year…,” and that was 3 years ago. Gee – I wonder if it’s even more now?
In 2012, the Washington Post reported that the “District has one of the highest levels of income inequality among the nation’s cities, with the top fifth earning on average 29 times the income of the bottom fifth.
The city’s top fifth of all households pulled in $259,000 on average. In contrast, the bottom fifth had an average income of $9,100. read more