City of Seattle passes tax for local businesses based on high-earner salaries

#1

Post by chin7an » Tue, Jul 07, 2020, 12:41 AM UTC

City of Seattle passes tax for local businesses based on high-earner salaries
geekwire.com

Re: City of Seattle passes tax for local businesses based on high-earner salaries

#2

Post by GhettoChild » Tue, Jul 07, 2020, 12:47 AM UTC

They really do think that big businesses are not able to relocate 10 minutes away to a place without this tax.

Re: City of Seattle passes tax for local businesses based on high-earner salaries

#3

Post by chin7an » Tue, Jul 07, 2020, 12:53 AM UTC

GhettoChild wrote: post #2

They really do think that big businesses are not able to relocate 10 minutes away to a place without this tax.

Or a business can decide to stay in the city, but work out a way to offset the costs, reducing annual raises or reducing bonuses etc. Hopefully this law does bring in some much needed help for the homeless situation, but looking at other Seattle city council projects, I'm not very positive on that happening.

Re: City of Seattle passes tax for local businesses based on high-earner salaries

#4

Post by itg » Tue, Jul 07, 2020, 1:10 AM UTC

chin7an wrote: post #3

GhettoChild wrote: post #2

They really do think that big businesses are not able to relocate 10 minutes away to a place without this tax.

Or a business can decide to stay in the city, but work out a way to offset the costs, reducing annual raises or reducing bonuses etc. Hopefully this law does bring in some much needed help for the homeless situation, but looking at other Seattle city council projects, I'm not very positive on that happening.

It’s more complex then that. If you reduce bonuses/raises, then talent will start leaving your company if they can get better offers.

Re: City of Seattle passes tax for local businesses based on high-earner salaries

#5

Post by GhettoChild » Tue, Jul 07, 2020, 1:40 AM UTC

itg wrote: post #4

chin7an wrote: post #3

Earlier quoted context omitted.

Or a business can decide to stay in the city, but work out a way to offset the costs, reducing annual raises or reducing bonuses etc. Hopefully this law does bring in some much needed help for the homeless situation, but looking at other Seattle city council projects, I'm not very positive on that happening.

It’s more complex then that. If you reduce bonuses/raises, then talent will start leaving your company if they can get better offers.

They will just go to Microsoft that is located in Redmond that is not affected by the tax.