Seattle Mayor Addresses Wealth Tax Concerns
In a recent interview, Seattle Mayor Katie Wilson dismissed worries that wealthy residents and businesses might flee Washington due to higher taxes, calling those concerns “overblown.”
When asked by FOX 13 Seattle co-anchor Hannah Kim if she still believes there’s exaggeration around the issue, Wilson responded, laughing, “Yes, I think the fears about a mass exodus because of the new millionaire tax are overstated.” She indicated her confidence in that perspective.
Back in March, Washington’s legislature approved a millionaire’s tax, which Democratic Governor Bob Ferguson signed, imposing a 9.9% income tax on households earning over $1 million annually. This tax marked the state’s first-income tax and was championed by progressives while facing opposition from conservatives.
Wilson highlighted her strong rapport with the business community, suggesting that claims of discontent among businesses didn’t reflect the reality of the efforts she and her administration have made. “What I’ve experienced over the past few months is quite different from the narrative that’s been circulated,” she noted.
She also mentioned that major companies like Starbucks, T-Mobile, and Microsoft are contributing to a 90-unit tiny house village in South Park Cloverleaf, set to open later this summer. Wilson posed a question: “If the narrative were true—like, Seattle’s socialist mayor against Starbucks—why would they donate $1 million to our shelter site?”
On a broader note, Wilson acknowledged a recent survey indicating that 44% of Washington business leaders are contemplating moving their personal residences out of state, and there’s a growing trend among companies to expand outside Washington rather than within it.
While Wilson seems optimistic, it remains to be seen how these developments will unfold in the coming months.
