By Cindy Alia 3/20/25
The State Legislative Democrats have decided how they will fund the never ending solutions they propose and promulgate with your dollars.
The revenue proposal they have released inclules:
Increasing the property tax cap
A 5% payroll tax on payroll expenses above $176,100 per year for companies with $7 million or more in payroll expenses
A wealth tax on individuals with wealth above $50 million
A state sales tax reduction from 6.5% to 6%
Elimination of 20 tax exemptions
The expectation is that this will create revenue of about 6 billion of the $12 billion needed to balance the budget. Please tell us again how this will make the wealthy pay for state government on behalf of the ordinary wage earning citizen. Looks like it may be a case of trickle down poverty theory.
A few questions occur, how will increasing the property tax cap improve housing? How will a payroll tax on payroll expenses not impact decision making for companies with 7 million or more in payroll expenses? Comapred to government spending, 7 million dollars looks like chump change. Wont this have a chilling effect on hiring?
What do even the most empathetic and progressive individuals with wealth above 50 million dollars do with their money when these wolves come after it? How do companies and individual react to the elimination of tax exemptions?
Finally as we bear the expense of these revenue building schemes how does a .5 cut in state sales tax help most individuals shopping for essential needs?
Rather than cut spending on programs and governmental mandates created in the past, these people intend to double down, keep programs in place regardless of efficiency, need, or popularity and demand through statute you pay.
Here is the puff piece they have produced to explain their excess:
Here is what the Washington Policy Center thinks about this budget.
The Washington State Standard states the facts about the proposal while quoting Senate Majority Leader Jamie Pedersen, D-Seattle. “This transformative proposal will rebalance our tax code and provide ample funding for public schools, public safety, and the needs of the people of our state.”
Oh, well, then Jamie, if you say so, this must be what we need.
March 20, 2025