The Pit of Misery: Politics and Religion

It turns out that electing communists has consequences.

King County lost $2.19 billion in income as more than 68,000 tax filers moved away: report

King County didn’t just lose residents. It lost billions of dollars in income.

Newly analyzed IRS migration data shows more than 68,000 tax filers left King County in 2023, taking approximately $2.19 billion in adjusted gross income (AGI) with them, according to reporting by the Puget Sound Business Journal.

The findings raise new questions about the long-term health of the region’s tax base as Seattle-area leaders continue expanding public spending while businesses, jobs, and higher-income residents increasingly look elsewhere.

While local officials often focus on overall population totals, economists note that migration data tells a different story: not all residents contribute equally to the tax base. The IRS Statistics of Income migration database tracks address changes on federal tax returns and measures the amount of income moving across county lines. The latest figures suggest King County may be exchanging higher-income taxpayers for lower-income newcomers, a shift that could have significant implications for local government revenues, consumer spending, housing markets, and public services.

Jobs Leaving Seattle

The migration numbers arrive as Seattle faces growing economic headwinds. Earlier this year, Downtown Seattle Association President Jon Scholes warned that Seattle lost more than 13,000 jobs in 2025 alone, telling KIRO 7 that employers are increasingly moving positions outside the city.

Scholes cited Seattle’s growing tax burden and employment costs as major factors driving business decisions.

Downtown Seattle Still Struggling

The outmigration data also comes as downtown Seattle continues to grapple with one of the worst office markets in the country.

A recent Cushman & Wakefield report found Seattle’s office vacancy rate reached 33.3 percent during the first quarter of 2026, exceeding vacancy rates in both San Francisco and downtown Los Angeles. The report also found Seattle continued losing occupied office space as companies reduced their office footprints.

Last month, Bloomberg reported that investment giant Blackstone agreed to sell Seattle’s U.S. Bank Center for roughly $280 million, about 54 percent less than the company paid for the property in 2019.

Major Employers Cutting Jobs

Several of the region’s largest employers have also reduced headcount in recent years. Amazon has announced multiple rounds of layoffs affecting thousands of workers. Meta recently disclosed cuts impacting nearly 1,400 Washington employees. Starbucks, headquartered in Seattle, has also reduced its corporate workforce as part of broader restructuring efforts.

What Happens When Higher Earners Leave?

The migration data raises a broader question for policymakers.

If King County is losing a disproportionate share of higher-income taxpayers while attracting residents with lower incomes, the county’s overall population could remain stable even as its tax base weakens.

That matters because local governments rely on income-generating economic activity to support everything from public safety and transportation to housing programs and social services.

Nationally, the Tax Foundation has documented similar migration patterns, with higher-income households increasingly relocating to lower-cost and lower-tax regions.

www.kvi.com

King County lost $2.19 billion in income as more than 68,000 tax filers moved away: report

King County didn’t just lose residents. It lost billions of dollars in income. Newly analyzed IRS migration data shows more than 68,000 tax filers left King County in 2023, taking approximately $2.19 billion in adjusted gross income
www.kvi.com www.kvi.com
 
Deathroll said:
It turns out that electing communists has consequences.

King County lost $2.19 billion in income as more than 68,000 tax filers moved away: report

King County didn’t just lose residents. It lost billions of dollars in income.

Newly analyzed IRS migration data shows more than 68,000 tax filers left King County in 2023, taking approximately $2.19 billion in adjusted gross income (AGI) with them, according to reporting by the Puget Sound Business Journal.

The findings raise new questions about the long-term health of the region’s tax base as Seattle-area leaders continue expanding public spending while businesses, jobs, and higher-income residents increasingly look elsewhere.

While local officials often focus on overall population totals, economists note that migration data tells a different story: not all residents contribute equally to the tax base. The IRS Statistics of Income migration database tracks address changes on federal tax returns and measures the amount of income moving across county lines. The latest figures suggest King County may be exchanging higher-income taxpayers for lower-income newcomers, a shift that could have significant implications for local government revenues, consumer spending, housing markets, and public services.

Jobs Leaving Seattle

The migration numbers arrive as Seattle faces growing economic headwinds. Earlier this year, Downtown Seattle Association President Jon Scholes warned that Seattle lost more than 13,000 jobs in 2025 alone, telling KIRO 7 that employers are increasingly moving positions outside the city.

Scholes cited Seattle’s growing tax burden and employment costs as major factors driving business decisions.

Downtown Seattle Still Struggling

The outmigration data also comes as downtown Seattle continues to grapple with one of the worst office markets in the country.

A recent Cushman & Wakefield report found Seattle’s office vacancy rate reached 33.3 percent during the first quarter of 2026, exceeding vacancy rates in both San Francisco and downtown Los Angeles. The report also found Seattle continued losing occupied office space as companies reduced their office footprints.

Last month, Bloomberg reported that investment giant Blackstone agreed to sell Seattle’s U.S. Bank Center for roughly $280 million, about 54 percent less than the company paid for the property in 2019.

Major Employers Cutting Jobs

Several of the region’s largest employers have also reduced headcount in recent years. Amazon has announced multiple rounds of layoffs affecting thousands of workers. Meta recently disclosed cuts impacting nearly 1,400 Washington employees. Starbucks, headquartered in Seattle, has also reduced its corporate workforce as part of broader restructuring efforts.

What Happens When Higher Earners Leave?

The migration data raises a broader question for policymakers.

If King County is losing a disproportionate share of higher-income taxpayers while attracting residents with lower incomes, the county’s overall population could remain stable even as its tax base weakens.

That matters because local governments rely on income-generating economic activity to support everything from public safety and transportation to housing programs and social services.

Nationally, the Tax Foundation has documented similar migration patterns, with higher-income households increasingly relocating to lower-cost and lower-tax regions.

www.kvi.com

King County lost $2.19 billion in income as more than 68,000 tax filers moved away: report

King County didn’t just lose residents. It lost billions of dollars in income. Newly analyzed IRS migration data shows more than 68,000 tax filers left King County in 2023, taking approximately $2.19 billion in adjusted gross income
www.kvi.com www.kvi.com
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