In 1994, I paid $540 a month for a one-bedroom apartment off Greenwood Avenue in Seattle. It had a view of the Sound. Parking was included. People said rent was getting too expensive back then.
Since then, the state budget has more than doubled. Services have expanded in every direction. Taxes have gone up repeatedly, and more are on the way. That same apartment would cost around $1,200 today if rent had just kept pace with inflation. I just checked. It’s now $2,200.
This week, Olympia is expected to pass a new income tax on millionaires—more revenue for more programs. And I find myself wanting to ask a simple question before we write that check…