Support Olympia by supporting Opportunity for Olympia

As a retired professor of political economy, I have followed closely the Opportunity for Olympia campaign to have a 1.5 percent tax on incomes over $200,000 to fund college scholarships.

The Institute on Taxation and Economic Policy notes that Washington state has the most regressive tax structure in the country. The poorest 20 percent pay 16.8 percent of their income in state and local taxes while the richest 1 percent pay only 2.4 percent.

The Pacific Northwest has been a national leader in establishing more equity in our society, as shown by the $15 hour minimum wage campaign. Evidence from the US Department of Labor, UC Berkeley, and the Economic Policy Institute (EPI), among others, points to positive economic benefits, not only to those getting raises but also to the overall economy.

The Opportunity for Olympia campaign will make Olympia a leader in the right to an education, a fairer tax structure for Washington state and local taxes and prepare a better future for the city and the region. The EPI indicate that the wealth and prosperity of a locality is highly correlated to the educational level of its citizens. This is one of those opportunities where the right thing to do, morally, is also the right thing to do financially. EPI notes, “Cutting taxes to capture private investment from other states is a race-to-the-bottom state economic development strategy that undermines the ability to invest in education.”

Support the city of Olympia by supporting the Opportunity for Olympia campaign.

This story was originally published July 26, 2016 at 4:37 PM with the headline "Support Olympia by supporting Opportunity for Olympia."