Big biz tax updates: Breakfast octopus edition

Some key items to consider as Working Washington and the rest of the Bring Seattle Home campaign reach out to voters in support of Seattle’s Progressive Business Tax:

  • We continue to receive troubling reports about signature gatherers misleading voters about Seattle’s big business tax and engaging in unsavory tactics. Here’s one report from the Rainier QFC. (We also have a recording from a Queen Anne Safeway.)
  • Starbucks announced they are giving Howard Schultz a $1.9 million retirement bonus, in addition to many many other benefits. By comparison, the PSBJ estimated Starbucks would pay $1.1 million a year towards affordable housing under Seattle’s big business tax law, which they claim is so much money to them it will somehow affect jobs. (Note too that estimate was based on the initially proposed $500 figure.)
  • Qumulo, a Seattle tech company, announced this week they have raised $93 million, and plan tohire “aggressively” in Seattle. That single investment for that single company is just about double what Seattle’s big business tax will raise raise each year. From about 600 large companies. For affordable housing & services for homelessness people.
  • Notably, the CEO of Qumulo last month signed a letter opposing the business tax which peddled the trickle-down argument that the tax would be somehow damaging. Apparently their economic analysis is different when they’re doing deals instead of playing politics.

A quote from Jeff Bezos might put it all into perspective. Bezos once explained to someone why he purchased their company in this way: You’re the octopus that I’m having for breakfast. When I look at the menu, you’re the thing I don’t understand, the thing I’ve never had. I must have the breakfast octopus.”

What if we're all the breakfast octopus now?