Business Owners Say New Income Tax Could Drive Employers Away

A longtime Washington family business says growing taxes and regulations in the state may eventually force them to relocate their business, personal residence, or both. Chris and Riley Lear — owners of Teeter, the Bonney Lake-based inversion therapy company whose products are sold worldwide — say they are increasingly concerned about Washington’s economic direction, particularly the state’s new 9.9% income tax on high earners. TOP STORY: FAMILY BUSINESS OWNERS SOUND ALARM The Lears, lifelong Democrats originally from Canada, say they never expected to publicly oppose policies pushed by the political party they have long supported. But now, they argue: Washington’s tax burden is becoming unsustainable Business owners are facing mounting uncertainty State leaders do not fully understand how pass-through businesses operate The couple explained how S-corporation taxation works: ➡️ Business profits often appear on personal tax returns even when cash is tied up in inventory, payroll, or operations. According to Chris Lear: “The profit in a business is not representative of cash availability.” The family says: Their company may appear profitable on paper But much of that money remains locked inside the business itself New taxes create added pressure and uncertainty for employers trying to grow and hire “YOU HAVE TO GIVE ME STABILITY” The Lears also warned: Business owners need long-term predictability to take risks Employers cannot confidently expand if they fear changing tax burdens Policies discouraging investment may ultimately reduce economic growth According to the interview: “You have to give me some stability that allows me to feel comfortable and sleep at night knowing I won’t lose everything.” The couple argued: ➡️ Successful businesses create jobs and economic opportunity ➡️ Risk-taking and investment require confidence in long-term stability ➡️ More employers are quietly considering relocation They emphasized: They do not want to leave Washington Their families and roots are in the Pacific Northwest But the combination of taxes and regulations is becoming increasingly difficult BUSINESS EXODUS CONCERNS CONTINUE TO GROW The comments come amid growing debate over: Washington’s millionaire’s income tax Rising business costs Economic competitiveness Reports of businesses and high earners exploring relocation Critics argue: ➡️ Washington is creating an increasingly hostile business climate ➡️ The cumulative burden of taxes and regulations is driving employers away Supporters of the tax argue: ➡️ The measure impacts only top earners ➡️ Additional state revenue is necessary ➡️ Washington remains economically competitive The debate continues to intensify as repeal efforts and constitutional legal challenges move forward. WHY THIS MATTERS This impacts: Small businesses Family-owned companies Job growth Economic investment Washington tax policy Long-term business confidence The fight over Washington’s income tax is increasingly becoming a broader debate over economic competitiveness and the future of business in the state. #WashingtonState #Business #Economy #IncomeTax #Taxes #SmallBusiness #Politics #Seattle #BreakingNews #USNews