A new tax-the-rich measure in Seattle was hit with its first legal challenge Wednesday. The new Seattle measure, passed by the city council in July, would impose a 2.25% tax on any income over $250,000 or above $500,000 for couples filing jointly. It is expected to impact about 9,000, or 2%, of the city’s taxpayers. A lawsuit filed by the Freedom Foundation, a conservative think tank, on behalf of 19 Seattle citizens, alleges...

Source: Wall Street Journal August 09, 2017 21:52 UTC