Initiative Measure 1098

I’ll be voting NO on I-1098.

Initiative Measure No. 1098 concerns estand reducing other taxes. This measure would tax “adjusted gross income” above $200,000 (individuals) and $400,000 (joint-filers), reduce state property tax levies, reduce certain business and occupation taxes, and direct any increased revenues to education and health.blishing a state income tax a

My understanding, is that Washington state gets revenue from sales tax, people spend/buy the state gets cash. OK. Except, in lean times, when people want to hold onto their cash, then state revenue goes down. I’ve been told, that other states that have a state income tax do not have such wild revenue swings. I’m all in favor of a state income tax and getting rid of the sales tax.

However, the feeling I get from I-1098, is that a bunch of people got together, said, “we want stuff” and pointed to the top 3% of wage earners and yelled, “and you have to buy it for us.”

I have no problem with everyone paying an income tax, and it’s good if the different levels of income have different levels of taxation. But I firmly believe, when it comes to taxes, we should all be in it together. Yes, the High School kid flipping burgers, and the Seahawk quarterback.

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One Response to “Initiative Measure 1098”

  1. Stephen Says:

    I completely agree that the Income Tax (Initiative 1098) would hurt Washington State. We have seen great success by being the innovators of industry for many years. In today’s market that innovation is funded by investment capital. This initiative pushes investment capital and incentives out of the state.

    Futhermore, I have to correct one comment. Income taxes are more affected by swings in the economy than sales taxes or property taxes. That is another reason why 1098 is so bad for the state; when times are good, the legislature will spend to the hilt and then when the economy dips they will be in a big hole.

    I will vote no on 1098 and urge others in our state to do the same.

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