Washington State’s Economy is the Best in the Nation

We have the highest wages and growth in the USA.

Washington state’s economy is performing incredibly well right now. So well, in fact, that CNBC named it “America’s Top State for Business in 2017”—a huge honor for a state that State Senator (R) Michael Baumgartner just the other day called “the toughest state in the country for small businesses.” (Swing and a miss, senator.)

Rather than diminishing the economic prospects of Washingtonians, the Evergreen State has grown at a blistering 3.7 percent rate, which is more than two times the national rate. That is remarkable, especially in a time where robust economic growth is hard to find in many parts of the country and the world.

Couple that growth with Seattle’s record low unemployment rate and well, you’ve got a lot of good news. And while we’re talking about Seattle, yesterday it was reported that for the second year in a row Seattle has the most cranes in the country. It’s not even a competition either. Seattle has 58 cranes interrupting the sky line whereas second place Los Angeles only has 36.

Now, Washington is clearly not an economic utopia. Our average workers may earn over $26 an hour, but we also have some of the highest rent anywhere in the nation and our cost of living is ridiculously expensive. Throw in sub-optimal infrastructure, thousands of homeless people, and an underfunded education system, and Washington’s bright economic outlook is dimmed a little bit.

However, thankfully, many of these problems could be addressed by creating more sources for revenue, such as a corporate income tax, or a capital gains tax, or dare I say, an income tax. These new revenue sources could immediately ameliorate many of the problems facing Washington today.

Conservatives (and rich people) will undoubtedly fight against these developments, but they’re on the wrong side of history and economic thinking. Just this week Seattle’s City Council unanimously approved a 2.25 percent tax on the income of residents earning more than $250,000. While this will be challenged in Washington’s Supreme Court, at least this latest civic achievement shows a political appetite for a more progressive tax system.

Regardless, Washington is leading the way once again, just like it did on gun responsibility, the minimum wage, marijuana, and gay marriage. This is a state where big things are happening. Let’s keep it that way.

An earlier version of this article had erroneously claimed that Seattle had “the highest rent in the nation.” That has been changed.