Starbucks Nashville Expansion Linked to Seattle Tax Policies A Seattle-based business reporter has raised questions about why Starbucks is shifting its focus from Washington to Nashville, suggesting that the state’s tax policies may be a key factor in the coffee giant’s expansion plans. The speculation comes amid growing concerns about the impact of Washington’s new “millionaires tax” on businesses and high-income earners. The Seattle Times published an article titled “What’s Nashville Have That We Ain’t Got in Seattle?” which highlights Tennessee’s more favorable tax environment compared to Washington. According to the Tax Foundation’s 2025 survey, Tennessee ranks eighth nationally for its business tax climate, while Washington is ranked 45th. The article notes that Starbucks’ decision to expand in Nashville could be influenced by Tennessee’s lack of a personal income tax, which contrasts sharply with Washington’s new progressive tax policies. Washington state Democrats passed the “millionaires tax” in March 2025, which was signed into law by Governor Bob Ferguson on March 30. The tax imposes a 9.9% income tax on households earning over $1 million annually, applying to income exceeding the first $1 million. The law, which takes effect on January 1, 2028, has sparked controversy, with critics arguing it could harm small businesses and middle-class families. The Wall Street Journal editorial board called the tax a “con” that risks capturing the middle class. Starbucks has been reducing its presence in Seattle, including the closure of five additional stores in March 2025. This follows earlier closures, such as the Starbucks Reserve Roastery on Capitol Hill.#nashville #seattle #starbucks #seattle_times #tax_policy
Warren Buffett's $7 Tax Bill as a Teenage Paperboy Warren Buffett, the billionaire investor and CEO of Berkshire Hathaway, filed his first federal tax return in 1944 at the age of 14. That year, he earned $592.50 from delivering newspapers in Washington, D.C., and additional income from investments, which totaled $228 in interest and dividends. Despite his modest earnings, Buffett paid just $7 in federal taxes, a figure that starkly contrasts with the $26.8 billion in taxes his company paid to the U.S. government in 2024, a record for any single year. The 1944 tax return offers a rare glimpse into Buffett’s early life and financial habits. At the time, the IRS required U.S. citizens earning $500 or more to file a return, and Buffett complied. His total income for the year was $592.50, but he itemized deductions for business expenses, including $10 for watch repair and $35 for bicycle costs. These deductions reduced his taxable income, resulting in the minimal tax liability. The document underscores his early understanding of financial management and cost accounting, traits that would later define his career as an investor. Buffett’s financial journey began with his paper route, where he earned $364, and his investments, which generated $228. His father, Howard Buffett, a stockbroker and future four-term U.S. congressman, played a pivotal role in shaping his interest in business and markets. Howard’s career in finance and politics provided Warren with early exposure to economic principles and the complexities of taxation, which would influence his later views on the subject. The contrast between Buffett’s teenage tax bill and Berkshire Hathaway’s 2024 payment highlights the dramatic evolution of his financial status.#washington_d_c #berkshire_hathaway #warren_buffett #tax_policy #howard_buffett
U.S. lawmakers take another swing at crypto tax policy with revised bill #crypto_tax #lawmakers #bill #revised_bill #tax_policy
