• How Seattle's New Tax to Fight Homelessness Could Ruin its Economy

    8 days ago - By Fortune

    In a shortsighted effort to fight homelessness, Seattle's city council has approved a new employee "head tax" on companies based in the city. The policy pits growth and progress against each other in a zero-sum game that will do far more harm than good.
    The head tax is exactly what it sounds like: a straight levy of $0.14 per hour per employee-about $275 a year for a full-time worker-targeting every business in Seattle with revenues of $20 million or more. The proposal's backers aim to raise around $48 million per year to fund various affordable housing initiatives in order to combat...
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