How Much Is It Going to Hurt, Rich Person?
It Actually Comes Down to This... * I assume none of these folks is rich I don't think $250,000 a year is really "rich," but it's where progressive taxation starts to nibble. Here is a comment from a guy with income in that range. He is delightfully named Ned Friend. AUGUST 2, 2017 SEATTLE — Ned Friend has high hopes for what Seattle’s new income tax could mean for his city. The measure, passed by the city council in July, would impose a 2.25 percent tax on high-income – those who make above $250,000 a year, or twice that for couples. Mr. Friend, a software engineer whose annual income is above the threshold, sees the new cash source as a way to help ease the affordability crisis that is the dark side to Seattle’s booming tech industry. He says he’s happy to pay a little extra each year if it means more revenue for the city to address homelessness and fund public education, make taxes more fair, and defend liberal Seattle against strikes from a conse...