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by pc86
97 days ago
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> they aren't contributing via B&O tax like businesses do Well they're not businesses so that makes sense. > "just" proportional to how much money they spend (emphasis mine) Yeah, which for most of them is going to be a lot more than someone earning a fraction of what they earn, so they do actually contribute more in absolute terms, even if for some reason you think that their contributing less on a percentage basis is for some reason bad. Good luck finding someone making $2M/yr who isn't spending a lot more in the local economy than someone earning $40k/yr. |
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In absolute terms, yes, of course someone making $2M/year will spend a lot more money than someone earning $40k, but they don't spend 50 times more. They don't need 50 times more food, or 50 times more gas, etc.
For the $2M earner, any surplus likely isn't spent locally but is invested instead, which leaks the money out of the state into global markets.
And that's the problem with regressive tax codes in general, the tax base is disconnected from the state's actual wealth growth. Washington's regressive tax system makes the state fund itself using only money from the working class while the state's largest pool of potential revenue remains locked away in global markets.