Opinion: How Seattle's new tax to fight homelessness could ruin its economy

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In a shortsighted effort to fight homelessness, Seattle’s city council has approved a new employee “head tax” on companies based in the city. The policy pits growth and progress against each other in a zero-sum game that will do far more harm than good.



The head tax is exactly what it sounds like: a straight levy of $0.14 per hour per employee—about $275 a year for a full-time worker—targeting every business in Seattle with revenues of $20 million or more. The proposal’s backers aim to raise around $48 million per year to fund various affordable housing initiatives in order to combat homelessness and provide low-income families with affordable options in the city.

Posted by topo 125 days ago in Business  |  msn.com
 

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