Building an economy that works. For everyone.
2010 tax reform Publications
Initiative 1098: How will Washington’s effective income tax rates stack up?
08.30.2010
| Initiative 1098's effective tax rates will
be lower than most, raking 27th out of the
44 states (including DC) that tax income. The new tax will apply to
just 1.2% of filers. So what will Washington's
average effective tax rate be on the top 1%
of earners?
Initiative 1098: The Right Tax Reform for Stronger Schools and Health Care
08.16.2010
| The quality of public services in Washington is beginning to slip
as reduced tax receipts shrink funding for vital services. Initiative
1098 would help to change that, dedicating all new revenue directly
to education and health care. And it would give significant tax savings
to middle class people and small businesses – the drivers of Washington’s
economy.
Initiative 1098: The Right Fix for Washington's Flawed Tax Structure
08.15.2010
| Initiative 1098 would reduce taxes for the majority of Washingtonians
by lowering property taxes and exempting small businesses from the
business and occupation tax. And it would raise new revenue dedicated
to education and health services by adding an income tax on the wealthiest
3% of households.
Initiative 1098: How will a 20% reduction in the state property tax affect residential and commercial property owners?
06.17.2010
| Initiative 1098 includes a 20% across‐the‐board cut in the state
portion of the property tax levy, which will reduce property taxes
for both businesses and individuals that own property. How much will
the average home or business owner see in savings?
Initiative 1098: Will business owners pay state income tax?
06.17.2010
| Under the provisions of I‐1098, a business owner claiming business
income on their personal tax return would only be taxed if his/her
total income exceeds $200,000 for single filers or $400,000 for joint
filers – and then only on the amount exceeding that income threshold.
Just how many filers who claimed business income would have paid income
tax under I‐1098 in previous years?
Initiative 1098: Fixing the most regressive tax system in the country
06.03.2010
| A recent study has concluded that Washington State has the most regressive
tax system in the country, taxing the lowest 20% of earners over 17%
of their income, while the wealthiest 1% pay just over 2%. This fact
sheet explains how this is possible, and details the data economists
use to determine tax rates.
Initiative 1098: What is Considered a 'Small Business'?
06.03.2010
| If passed, Initiative 1098 would eliminate the business and occupation
(B&0) tax for all small businesses -- but what is considered a small
business? This fact sheet answers those questions and more, from exact
tax rates and exemption levels to examples of which businesses would
be exempt.
Where Do the Wealthy Live? High Incomes and State Income Tax Rates
04.21.2010
| This fact sheet examines the myth that a state income tax on high
income households will drive wealthy people from Washington state to
live elsewhere.
Washington’s Estate Tax: Revenue for Higher Education
and Early Learning
02.24.2010
| Increasing Washington's estate tax could fund universal pre-kindergarten,
Washington's early childhood education career and wage ladder, and
provide publicly-financed tuition for all Washington public high school
graduates -- in addition to lowering class sizes in public schools
and improving academic help for struggling students.
Exemptions to Ax - Sins to Tax: Revenues to Rebuild Our Economic Future
Winter
2010 | These fact sheets summarize a budget solution that closes Washington's
$2.8 billion shortfall this year -- and provides long-term budget stability
in future years. By closing tax exemptions that no longer serve a compelling
public purpose and carefully choosing new sources of revenue, lawmakers
can stabilize funding for quality schools, affordable health care,
a safety net for the most vulnerable, affordable housing, public safety,
and a clean environment. This responsible approach will help balance
the state budget without eroding the high quality of life that makes
our state a great place to live, work, raise a family and do business.
Revenues to Close the Gap
01.27.2010
| Washington State is losing billions of dollars in uncollected tax
revenue -- more than $1.7 billion for FY 2011. This summary shows how
targeted exemptions and tax changes will help solve the current budget
shortfall, while providing long-term, sustainable solutions.
Creating jobs and boosting our economy
01.14.2010
| Washington State is losing an estimated 44,000 private and public
sector jobs due to billions of dollars in state budget cuts in 2009
– and further cuts could axe another 33,600. By contrast, a combination
of new state taxes and federal aid to fill the state’s budget gap could
save up to 30,000 jobs.
This
work is licensed under a Creative
Commons Attribution-Noncommercial-Share Alike 3.0 Unported License
from the Economic Opportunity Institute. Liquid layout
thanks to Matthew James Taylor.