Warning: this could be America in a few years if the Democratic Socialists keep taking power.
Stephen Moore: Unleash Prosperity Hotline – Seattle’s FOX affiliate reports that the city now has “the highest office vacancy rate in the country.” Some 35% of the offices in the Seattle Central Business District are empty with 20 million square feet of office space but no tenants. The city is now becoming known for “Zombie Towers”– near empty skyrise buildings.
Downtown office properties have lost half of their assessed value since 2020, which has raised property taxes on homeowners.The Seattle jobs market – in what was once a high-tech mecca – has gone from boom to bust and new job postings have collapsed. Iconic Seattle-based companies from Starbucks to Amazon are moving jobs and people out.
Why?
Seattle has become a socialist hell hole. The Democrats raised the state tax rate on high-income earners from zero to 9.9% - so many business owners have exited stage right. Crime is rampant. The minimum wage is now above $20 an hour – killing small businesses.The new mayor, Katie Wilson, an avowed socialist, lived with her parents and never had much of a real job, and has proven to be an ideological nincompoop.
Warning: this could be America in a few years if the Democratic Socialists keep taking power.
