Seattle Mayor And City Council Cancel Employer Tax After Pressure From Amazon & Starbucks!

The mayor city council wisely cancelled plans to implement and employer tax on companies that generate $20 million or more a year in revenue. The purpose of this tax was to address their large homeless population. After Amazon put on hold expansion plans that would have added another 7,000 jobs and an economic impact study that showed Seattle would lose 14,700 existing jobs and $3.5 billion in economic activity they wisely changed their minds! Their is a basic economic law that liberals seem incapable of learning. As Warren Buffet puts it: "Money always flees to where it is treated best." France discovered this law a few years ago when they increased significantly the income tax rate on millionaires. When they determined that this tax had raised less than half of the expected revenue, they discovered that the reason why, was many of the millionaires in their country had move to another country and renounced French citizenship!

http://thehill.com/homenews/state-w...-course-on-business-tax-after-amazon-pressure

 

Yeah, that was a classic example in France.

What did they up the riches tax to, 75% or something and they simply left.

I can tell you this, the rich aren't rich because they are dumb with their money.

Same with corporations, they will use all tools available to increase their profit, they pay people to figure this stuff out.

They aren't just going to sit there and hand out money for no reason.