I’ve heard many people praise Seattle as a great place to live with lots of amenities and a fantastic setting. Like a lot of places with those kinds of attractions, it also has a political scene that leans strongly to the left, as Mayor Katie Wilson recently highlighted:
“Seattle Skyline” by Atomic Taco is licensed under CC BY-SA 2.0 
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Seattle’s socialist Mayor Katie Wilson has a message for prosperous people leaving Washington over the state’s soaring tax burden. “Bye!” she says with a laugh, to cheers from a largely progressive audience. Entrepreneurs and investors will certainly take that comment into account as they consider where to live and do business. We can be sure of that fact because recent research further supports the commonsense idea that people often leave high-tax states in search of lower tax bills.
Goodbye, Wealthy People!
Wilson’s comments came during an April 16 discussion about “The New Progressives” as part of Seattle University’s Conversations series. Wilson and King County Executive Girmay Zahilay fielded a series of questions by host Joni Balter and graduate student Ari Winter.
Asked about major companies leaving or threatening to leave over Seattle’s and Washington’s escalating tax burden, Zahilay acknowledged that “everything is a tradeoff” and “of course I think taxes can make companies make decisions about staying or leaving”. You wouldn’t necessarily want to live under his policies, but he sounds like he understands that his decisions may drive people out and impose costs on the community.
Wilson, a self-described “socialist“, was presented with a follow-up question by Winter. She was asked, “do you still think progressive taxes are an easy and promising solution?”
Wilson responded that it was “very, very exciting to see the billionaire tax pass the legislature” and described her history of advocating for higher taxes. She then cut to the heart of her response.
“I think the claims that millionaires are going to leave our state are, like, super overblown. And if, you know, the ones that leave, like, bye!” she said with a wave and a snicker. The audience at the university event joined in with whoops and applause.
Wilson may want to practice her goodbyes. Fisher Investments moved from Washington to Texas to escape a new capital gains tax. Starbucks is building a corporate hub in Tennessee and moving jobs there, largely over tax concerns. Billionaire Jeff Bezos fled the state for Florida, also motivated by taxes.
“Jeff Bezos sold about $15 billion in stocks before the new law took effect, potentially saving over $1 billion in taxes”, the Washington Policy Center’s Chris Corry noted. “Moving his primary residency to Florida would ensure that any future stock sales would not be subject to the excise tax.”
Tech giant Microsoft criticized Washington’s tax environment and threatened to move jobs elsewhere.
