The city of Seattle, Washington, is short about $47 million on its tax collections as jobs and residents flee the disastrous, Democrat-led city.
“Today’s announcement that PET revenues collected in 2024 were $47 million lower than projected requires action to ensure our budget remains balanced,” Seattle Mayor Bruce Harrell explained in a statement, according to MyNorthWest.
The mayor added that the city is falling very short of its needed budget thanks to the falling payroll tax take.
Talks show host Jason Rantz ripped the city leadership.
“What people haven’t realized yet—but soon will—is that the sharp drop in payroll expense tax revenue means jobs are leaving Seattle,” Rantz said. “The whole point of the PET was to squeeze ‘free’ money out of businesses because the city arrogantly assumed it held all the cards. But what did PET actually do? It pushed Amazon jobs to Bellevue, kept employees working from home (and out of Seattle), and helped fuel layoffs at companies hit hardest by the tax—like Expedia.”
“Businesses pay far more than their fair share and offer Seattleites high salaries that the city uses on wasteful, ineffective programs,” Rantz added. “Harrell knows big business already pays ‘their fair share’ but offers his silly quote to try to villainize them, while lionizing his own efforts to go after the businesses he pretends are greedy. But he’s the greedy one: he wants more money that he didn’t earn so he can continue to misspend it. And he’ll target businesses as greedy or deceitful so it can help his re-election campaign.”
This is what happens when Democrats are in charge. Tax rates soar, jobs flee, residents move away, and tax revenue craters. Then, instead of cutting spending and reassessing, Democrats raise taxes again and it starts all over again.
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