With another socialist—they’re just communists-lite—poised to become mayor of a major American city, we see yet again the wages of economic illiteracy and lawlessness. Jeneese Lewis George, the hilariously branded “democratic socialist” candidate, will almost certainly be DC’s next mayor, and is already promising to impose policies that have proved such a disaster for Seattle’s new socialist mayor, Katie Wilson.
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It was Wilson, whose policies have driven wealthy individuals and businesses essential to the tax base out of the state, who arrogantly waved “bye” to them:
Graphic: X Post
While speaking at a forum at Seattle University earlier this month, the new Democratic mayor said, “I think the claims that millionaires are going to leave our state are like super overblown.”
“And the ones that leave, like, bye,” she continued, waving her hand and laughing. Though the line drew laughs and applause from those in the auditorium, it did not go over as well online, as conservatives quickly blasted the new Seattle mayor.
“Seattle’s Socialist Mayor responds to exodus of wealth from Washington State by saying “BYE” … then laughing. We’re doomed,” wrote Brandi Kruse.
So it would seem:
Graphic: X Post
Wilson is continuing, and worsening, disastrous economic policies that predated her ascension into office, and the consequences are as predictable as they are disastrous:
[June 15] compared Seattle’s status with its neighboring city, Bellevue, which has no comparable payroll tax or social housing tax, and found that while Seattle’s workforce and property values have shrunk, Bellevue’s has remained resilient.
“[S]ince 2020, what we have seen in downtown Seattle is not a ‘jump start,’ but instead, a slowdown,” the report read. “Since being implemented, downtown Seattle has lost around 30,000 jobs. The office vacancy rate increased to 32% in the downtown core. And more than $10 billion in office value has been lost.”
Seattle is leading the charge into fiscal disaster, while not all of Washington state is blindly following:
It continued, “Meanwhile, in Bellevue, dating back to 2020, the city has seen more jobs come to its core, lower office vacancy, and the stability of office building values. This provides a stark tale of two cities and two tax environments just miles apart.”
The DSA reported that Bellevue experienced a 7% increase in assessed value compared to the 48% decrease seen in Seattle office properties. Though both cities have a sizable office vacancy rate since 2020, Seattle’s rate is also significantly higher at 32% compared to Bellevue’s 24%.
Read more The UNRWA may finally be in trouble
Wilson, who at 43 can only afford to live in Seattle thanks to financial support from her New York parents, remains oblivious to financial reality. That seems to be a job requirement for blue city mayors and blue state governors.
“Seattle’s JumpStart Payroll Expense Tax is a key reason why the city was able to successfully bounce back from the worst economic impacts of COVID. Because of Seattle’s ongoing economic strength, this tax on the highest salaries paid by the largest corporations has raised far more money over the past several years than originally projected,” the mayor said.
She continued, “JumpStart revenue is the key reason why the city has been able to avoid the negative impacts of the deep budget cuts which would have otherwise been necessary over the past few years, and which would have been a massive drag on our local economy.”
“A massive drag on our local economy” such as chasing out the people and businesses, including Starbucks, that constitute a substantial, irreplaceable portion of the tax base? Seattle is in huge budget trouble:
Seattle is facing a projected budget deficit of $488 million over the next three years. Mayor Katie Wilson, five months into the job and facing numbers that are $113 million worse than what her predecessor left behind, went on the Seattle Channel last week to explain how the city got here.
Wilson’s budget director said Seattle wasn’t spending beyond its means, except it was.
On election night, she [Wilson] told reporters, “No one saw this coming.”
Except pretty much everyone other than Wilson did. As Margaret Thatcher said, socialists always run out of other people’s money, so “bye” to Seattle’s budget and prosperity.
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Mike McDaniel is a USAF veteran, classically trained musician, Japanese and European fencer, lifelong athlete, firearm instructor, retired police officer, and high school and college English teacher. He is a published author and blogger. His home blog is Stately McDaniel Manor.