Wednesday, October 5, 2016

20% Foreign Investment Tax

This really needs to be discussed especially at the state government level. Im xposting this since theres some weird drama in /r/Seattle. Wtf Reddit?!Washington State must follow Vancouver's lead and impose a foreign investment tax on residential properties inorder to maintain affordability for US citizens. More importantly keep Seattle affordable for Citizens of Washington State. Recently with the imposed tax on Vancouver foreign investors which a vast majority are coming from China, there has been a sharp decline in which now Seattle is that hot market for Chinese money as a safe harbor. Chinese economy is not looking so good and a question to if a collapse is when. Seeing early signs of that. Unless you want to be paying 2 million dollars cash for a 250K house, State government really needs to consider imposing this Tax immediately. It can even be a temporary 15 year tax. Money can go torwards safety, school, roads and social programs. via /r/SeattleWA

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