Would levy an income tax of 5 percent on individuals who make more than $200,000 a year, or couples who make more than $400,000 that jumps after reaching $500,000 for individuals and $1 million for couples. It would reduce the state portion of your property tax bill by 20 percent and increase credits for the businesss and occupation tax.
Washington voters have a near record number of initiatives on this fall’s ballot, giving them choices on raising taxes, paying taxes, buying liquor and providing for workers’ industrial insurance. Here’s a look at the tax policy ballot measures.
Let me start by saying that I am a lucky guy. I’m a self-made man who retired at 33, is way overmarried to a fabulous physician and is blessed with three great kids who are in a wonderful local school. I was raised by two hardworking school teachers in Spokane and received a good public education.
I am proud to be chairman of Red Lion Hotels Corporation and former CEO, but my thoughts on the importance of Initiative 1098 are my personal observations. However, it is the 40 years helping build and lead a company that forms my conviction on why we really need 1098.
Washington state Sen. Chris Marr, a Democrat, and Republican challenger Michael Baumgartner respond to the question, “Do you support Initiative 1098, which would create an income tax on individuals who earn at least $200,000 and lower the business and occupation tax and the state property tax?”
Washington voters may be experiencing initiative overload this year with a near-record number of ballot measures. They can stage a “tax revolt” by lifting new taxes imposed by the Legislature in April or reinstate a two-thirds supermajority for any tax increase. They can also impose an income tax on people who make more than $200,000.
Three initiatives that would change the state’s tax policies – instituting an income tax, dropping a series of consumer taxes or requiring supermajorities to pass new taxes – have more support than opposition among voters, a new poll by Elway Research Inc. indicates. But none has a majority of voters saying they’d vote yes if they were casting ballots right now. Neither do the other three initiatives placed on the ballot by petition drives – two that would end the state’s ownership of liquor stores and another that would change the system for compensating injured workers.
OLYMPIA – Washington voters will likely have six initiatives on the November ballot dealing with taxes, booze and workers’ comp. They could repeal some of the recent consumer taxes on soda, bottled water and candy; levy an income tax on people who make more than $200,000 a year; and restore a supermajority requirement for the Legislature to raise taxes.