In this episode of Adventures in Wealth Redistribution…
On February 6, a ballot initiative was proposed in Seattle to create an excess compensation payroll tax to fund “social housing” in the Emerald City. (“Wizard of Oz” comparison duly noted.) The initiative would levy a payroll tax on Seattle employers with workers who make more than $1 million a year, which would fund the program that would be available to all regardless of income.
The initiative, proposed by House Our Neighbors, would use revenue from the additional five percent tax to fund the project. The House Our Neighbors website describes the group’s mission statement thusly:
House Our Neighbors envisions a future where all people can afford to live and thrive in vibrant, cohesive, and climate-resilient communities. To achieve this, we develop, advocate, and mobilize for policy to realize social housing for the residents…
