Wealthy contribute to defeat income tax

[ensho]

http://seattletimes.nwsource.com/html/localnews/2012952482_1098money21m.html


Microsoft CEO Steve Ballmer and Amazon.com founder and CEO Jeff Bezos, have lined up against an initiative that would create an income tax on the state's wealthiest earners.


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The initiative on the Nov. 2 ballot would create a 5 percent tax rate on annual income exceeding $200,000 for individuals and $400,000 for couples, and a 9 percent tax rate on income that tops $500,000 for individuals and $1 million for couples.

Initiative 1098 also would cut state property taxes by 20 percent and newly exempt 118,000 businesses from the state business and occupation (B&O) tax.

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In addition to Ballmer and Bezos, top new contributors include $100,000 from former Sonics owner Barry Ackerley and $50,000 from Bartell Drugs on top of $60,000 in earlier donations from the company and its owner.

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Sandeep Kaushik, a spokesman for Yes on 1098, said he wasn't surprised by the contributions.

"We've known for some time that some of the state's wealthiest people who would pay more under I-1098 are opposing it for that reason," he said.
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wishing 1098 well

[L0oniX]

1. It's us or them and they are the enemy of us all.

They seem to have plenty of money to throw at this initiative but ...oh noes ...cant afford the tax bill.