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Seattle’s new ‘Amazon tax’ should serve as a model for all major cities

Seattle’s City Council recently approved a measure to impose new taxes on the city’s largest employers. Under the new law, companies earning more than $20 million in annual revenue would be required to pay $275 per employee each year. Amazon’s share alone could bring in more than $10 million annually with its 40,000 employees. All told, the new plan — which was approved with a 9-0 vote — could inject $50 million annually into the city’s economy. In a separate vote yesterday, the council approved (5-4) spending two-thirds of the new tax revenue to build and operate low-income housing units. …read more