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Behind Seattle's Amazon Tax: A tech boom that sent house rents soaring

While there are more jobs across the spectrum, and generally rising wages, the supply of housing doesn't keep up

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Karen Weise | Bloomberg
It was, as the local public radio station said, the day “Seattle Nice” died. On May 2, the residents of Seattle were hit with a one-two punch. For months, the city council had been debating a new tax on large employers to raise $75 million for new affordable housing and services for the homeless, whose growing population had burst out of shelters and into tents around the city.
 
In the late morning, just before a council hearing, a columnist for the Seattle Times broke the news that Amazon.com Inc., the city’s largest employer, was playing hardball. The typically hermetic company