Re: “CEOs oppose income tax initiative” (TNT, 9-22).
For years, Washington’s wealthy have benefited by a patchwork of regressive taxes, those by which lower-income people pay a greater percentage of their income in taxes than do those of higher incomes. It is time for change and time for the rich to pay their fair share.
William Gates Sr. helped write and supports the initiative but some Seattle multimillionaires oppose it, including Jeff Bezos (Amazon.com), Steve Ballmer (Microsoft), Bartell Drug Co. owners and Barry Ackerley. A Microsoft spokesman claimed that the tax would impair the state’s ability to “attract top tech talent in the future.”
Where will they go? Passage of I-1098 will leave only six states as safe harbors from any tax on income. With good luck and having wonderful people around me, I will be one of those taxed. I accept that; it is only fair.