To the editor:
The League of Women Voters of Washington recommends a yes vote on initiative 1098. What would I-1098 do if adopted?
* It would reform our state’s outdated tax system by establishing a progressive income tax on the wealthiest 1.2 percent of households.
* It would cut state property taxes for all Washingtonians by 20 percent.
* It would eliminate the B&O tax for 81 percent of small businesses.
* It would establish a trust fund for education and critical health programs.
* The wealthiest households would pay taxes only on income earned above $400,000 a year for couples or $200,000 per year for individuals.
The income tax will be levied on federal adjusted gross income and the taxes collected will qualify as deductions on federal income tax returns. The first responsibility of the trust fund will be to reimburse the state general fund for the loss in property and B&O taxes. All other proceeds will be dedicated to education and health.
Washington state schools formerly were among the best in the nation. But over the past 20 years reduced funding of our schools has changed all that. A comparison with other states shows that Washington ranks 45th in the total money we put into education.
In student/teacher ratios, classroom size and spending relative to state personal income – we are 47th.
What kind of education will your children and grandchildren receive in schools with these kinds of funding cuts? We need a more stable source of funding for our schools. Seventy percent of the trust funds will be dedicated to education.
Thirty percent of the funds from I-1098 will be earmarked for health. It will help fund the state-wide basic healthcare plan, public healthcare in counties throughout the state, and long term care for low-income seniors and those with disabilities.
Some fear that this would open the gate to a general income tax for the state. Any changes in the tax rates in Section 501 of the initiative must be approved by the legislature AND a vote of the people.
This initiative would serve us all, including the super high earners by relieving our property tax and removing the unfair B&O tax burden on the businesses that represent our best hope of improving the job situation.
For non-partisan, objective analysis of all the ballot measures, go to www.lwvwa.org.
Above all, vote Nov. 2.
Barbara Seitle
Langley
