Thursday, September 09, 2010

Washington Initiative 1098 - Vote No

This one is for my Washington state readers. Folks, we have a job and prosperity killer aimed at our heads right now. It's known as Initiative 1098, which would create an income tax in Washington state if passed, coming to your ballot this November.

The "yes" on 1098 folks are inflating the impact of one part of their initiative - the property tax reduction - in an attempt to mislead people into falling for class warfare BS. Your total property tax bill will not decrease by 20%; it will only drop about 4.5% (and Olympia can just raise it again).

What KOMO failed to get into in this piece is that everyone, no matter how large or small their paycheck, will still have money withheld all year long, and you technically won't "pay" the tax ONLY AFTER you file a return and get it all back. That means you still are out the money all year long anyway, and you still have to pay the same "regressive" sales taxes you do now with less take-home pay and fewer job opportunities.

It also cannot be said enough that after two years go by, Olympia can change the law established by any initiative. If they are given the power to tax income, two years from now they can change the law so that "the rich" will mean "anyone earning money in this state."

Finally, bear in mind that a state cannot print money, only the Feds can do that. One day you will get an IOU in the mail instead of a refund check when the idiots in Olympia spend every dime before actual receipts are counted (they budget based on PROJECTIONS - never forget that!). It has happened before to hundreds of thousands of people living in other states that have income taxes, and since our pack of clowns in Olympia have already run this state into the red, it will happen here.

Vote "no" on 1098 in November. Don't let Olympia into your wallet!

To watch the KOMO video, click here.

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