Heavy hitters in Washington including Microsoft, Amazon, Inris, Motricity, and Concur Technologies are all very outrages at Initiative 1098 and have become strong supporters of a campaign called "Defeat 1098."
"As an employer, we’re concerned that I-1098 will make it harder to attract talent and create additional jobs in Washington State. We strongly support public education, but we’re concerned by key details in I-1098. This initiative would give Washington one of the top five highest state income tax rates in the country. I-1098 would apply this tax rate to all income, including capital gains and dividends, and would not permit any deductions for charitable contributions," said Microsoft general counsel Brad Smith in a statement.
See, it sounds good to make huge corporations with gigantic piles of money pay a bit more tax, so that struggling people and tiny businesses aren't hurt. But you know who will be hurt if this thing goes through...
Oh, well. It is interesting this would come up during an election year too. My guess: it won't pass. No way. But if it does, expect to start paying more for your overpriced Microsoft stuff. Oh yeah, by the way, Starbucks is based in Washington too, so...how far can they go?
Via Tech Flash