• HOME :
  • NEWS :
  • THE PUNISH-THE-RICH TAX HIKE

The punish-the-rich tax hike

JUNE 28, 2021 | by Steven Malanga | CITY JOURNAL

By Steven Malanga, includes “Massachusetts’s state-government coffers are ‘awash’ in cash, as tax collections come in well ahead of projections. State and local governments are also divvying up $8 billion from the so-called Biden stimulus. Things look so good in the state capital, in fact, that legislators now want . . . to raise taxes by another $2 billion. … It’s true that, despite its reputation as Taxachusetts, the state’s total tax bite is reasonable. A recent study by WalletHub ranking states by taxes as a percentage of personal income placed Massachusetts a modest 21st in terms of total burden. …” (Note: This observation illustrates the importance of coupling current tax payment-based measures with indicators of longer-term government financial position, like TIA’s “Taxpayer Burden.”)

VIEW LESS