Seattle's new tax an example of the left's dislike of capitalism, big businesses: Varney

By OpinionFOXBusiness

Seattle's new tax an example of the left's dislike of capitalism: Varney

FBN's Stuart Varney on Seattle's city council passing the new tax labeled the

They did it. The socialists of the Seattle City Council pushed through a tax on workers.

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If you run a business there, and you gross $20 million, you will have to pay the city $275 a year, for every employee. And that charge will rise in future years.

This fits neatly into the "tax the rich" nonsense that the left is peddling for the November elections. Seattle has a homeless problem, so the city council demands money from big business. It’s always the same: you've got it. We need it. Pay up.

Seattle is ignoring the huge jump in revenues that business has already delivered to the city. It’s roughly doubled in the last eight years. But that’s not enough! It’s never enough! Seattle's new tax is just another example of the left's dislike of capitalism, and big businesses in particular.

Amazon and Starbucks are the city's two biggest employers and will be saddled with most of the bill. This is ridiculous. Amazon guy, Jeff Bezos, detests President Trump. And Starbucks Chairman Howard Schultz has gone out of his way to make his company a social justice stand-out. But the socialists have no time for them. They are, after all, capitalists.

It’s called cutting off your nose to spite your face. Seattle will not solve its homeless problem with this tax. But it will chase jobs away. It should really be called ideological purity because the socialists are not going to help their fellow citizens, but they will hurt the businesses they so thoroughly detest.

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