Friday Roundup: Constitutional amendment, millionaires moving, smart cities, millennials and capitalism, minimum wage

There are always a few items we’ve read during a week that deserve more attention but don’t make it into our regular posts. So we bundle them for the Friday roundup.

Here’s this week’s bundle:

Sens. Andy Hill and Joe Fain, Seattle Times op-ed: Constitutional amendment a must for balancing state budget

The constitutional amendment we propose, requiring the state budget to balance across four years, would let Washington voters make this effective check on irresponsible budgeting permanent and halt attempts to undermine it.

Our plan would not restrict spending nor would it prevent important new programs that could require higher taxes. It simply would prevent politicians from promising things for free, especially in election years, while creating a balance-sheet crisis for future lawmakers to address.

New Geography: Where millionaires are moving

Then comes a series of some of the most attractive cities on the planet, including Seattle (seventh)…

Yet if the presence of the rich creates more inequality, their departure could also have some nasty effects. The movement for example of one billionaire — hedge fund manager David Tepper — from New Jersey to Florida could leave the Garden State with a $140 million hole just from his change of address. Overall New Jersey depends for 40 percent of its revenue of income taxes, one-third of which is paid by the top 1 percent of the population.

Stateline: What is a Smart City?

“The concept of a smart city is somewhat amorphous, but it’s focused on cities leading with technological innovation,” said Brooks Rainwater of the National League of Cities.

“It’s just using digital technology to improve community life,” said Jesse Berst of the Smart Cities Council.

Washington Post: A majority of millennials now reject capitalism, poll shows

In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.

The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.

Seattle Times editorial: Minimum-wage law: This is not play money

But this is not free money. The UW research shows the march to $15 prompted 11 percent of businesses to consider or plan a move out of Seattle…

One “potential area of concern” for [University of Washington professor Jacob] Vigdor is teenage-employment rates. “One message we’ve been hearing from businesses is, when they’re hiring now, they’re placing a big emphasis on workers with experience,” said Vigdor.

In the case of $15, the jury is still out.