3 ms·
It raises the cost (excluding everything but salary, which is unrealistic) of a full time minimum wage worker by 0.9% per year. Add in the additional costs of a
by s2g 8y ago
It raises the cost (excluding everything but salary, which is unrealistic) of a full time minimum wage worker by 0.9% per year. Add in the additional costs of an employee and that percentage drops even further.
It was also targeted at the top 3% of companies or something.
This was a paltry tax. If you want to convince me otherwise I want hard numbers, not "oh but the low profit minimum wage employers".
- bobthepanda 8y agoAt the 2021 $15 min wage, it would've hiked the cost of a part time worker working 29 hours a work by 2.2%. (29 hours is the limit before one qualifies for employer health insurance under federal law, and IIRC neither Seattle nor Washington have any stricter laws.) So you'd be severely dis-incentivizing part time hiring. .9% is not a trivial tax increase. If sales taxes went up by .9%, that would be an undue burden on the poor. And a flat $500 head tax is more regressive than even a flat percentage tax on sales; making it only apply to the top X companies doesn't stop it from being regressive.