Re: “Higher car-tab bills landing in mailboxes with ST3 tax hike,” (TNT, 2/18).
As an economist, I foresee: real estate, sales and car tab taxes will rise to punitive levels; the poor and disadvantaged will suffer disproportionately, along with schools, churches and social services; major businesses (e.g. Boeing) will be forced to move to tax-friendly states as employees demand raises to offset taxes; the cost of raw materials will rise; and customers will cut spending.
The home building and construction industries will collapse; small businesses’ customers will cut their spending, and these businesses will close across the Puget Sound.
Even if you do not reside in the direct ST3 taxing zone, you are not safe because of the links between the places you shop and service providers who do pay transit taxes.
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The folks who remain in the ghost town/region will be obligated to pay the full interest and principal tax burden.
We will soon become the Detroit of the West.