Venture Capitalists say I-1098 would slow growth

The VC have organized opposition to Bill Gates, Sr.'s income tax. Techflash, quoting the VC group:

If enacted, 1098 would devastate long-term economic growth and competitiveness in Washington state by punishing owners and employees of small businesses. Further, the legislature cannot be trusted with an income tax structured like 1098. In just two years, legislators could apply this tax to all Washingtonians. Residents of our state understand fiscal responsibility and government priorities are important, but 1098 is the wrong approach. It must be stopped

Their website - Defeat 1098 The Washington Roundtable President Steve Mullin says I-1098 would hit entrepreneurs especially hard because many of them file taxes as S corporations. ... also Washington Wire