Seattle is blessed to be the headquarters of two of the most successful companies in the country: Amazon and Starbucks. They have brought untold wealth and thousands of jobs to the community. Instead of being thankful for their good fortune, the mayor and city council see them as sheep to be sheared.
State law doesn’t allow them to establish an income tax. Instead, they set up a “head tax”. Large companies must pay a tax on each employee. This is the dumbest tax ever. Most cities want to encourage companies to hire more employees. Not Seattle.
There is no telling how many potential jobs will be lost. New startups will likely follow the example of Microsoft and Boeing and set up shop in the suburbs. Undoubtedly Seattle will react by increasing taxes.