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…Constitution requires a flat income tax rate. On five occasions in the last 60 years, voters were asked to amend the constitution to eliminate the ban on a graduated tax…
…before they leave.” The graduated income tax proposal advanced by the Massachusetts Teachers Association, the Service Employees International Union, and other union, advocacy, and religious groups, defines earnings as including…
…commodity being taxed, was the sole basis for the adjustments. If we’re levying a tax on income, we should index the escalation factor to income.” Cost-of-living adjustments in the graduated…
…graduated income tax would raid the retirement plans of Massachusetts residents by pushing their owners into higher tax brackets on the sales of homes and businesses, according to a new…
…members as their proportionate share of taxable income at the state level. Thus the workaround tax credit is not relevant to the impact of the proposed graduated income tax amendment…
…The Volunteer State over Massachusetts,” said Andrew Mikula, author of A Timely Tax Cut: How New Hampshire Tax Policy Changes Could Worsen the Impact of Massachusetts’ Graduated Income Tax. “The…
…“The Graduated Income Tax Trap – A Tax on Small Businesses,” with Greg Sullivan. “This is a time when we should be prioritizing the resilience of the state’s economy and…
…subject to the surtax over time, according to this report, “The Great Mismatch: The graduated income tax proposal’s gravely flawed escalation factor.” Download “The Great Mismatch: The graduated income tax…
…businesses. The study aims to help the public fully understand the impact of the proposed new tax. Download: “The Graduated Income Tax Trap: A retirement tax on small business owners“…
…the tax code that make it seem artificially regressive. Download: Are Massachusetts taxes regressive? A common argument for a graduated income tax relies on a deeply flawed and outdated study…
…priorities. In fact, without violating the amendment, total state education and transportation funding could stay the same or even fall. Download: The Graduated Income Tax Amendment – A Shell Game?…
…income above $1 million will adversely impact a significant number of pass-through businesses, ultimately slowing the Commonwealth’s economic recovery from COVID-19. Download “The Graduated Income Tax Trap: A Tax on…
…in tax policy that might attract an increasingly mobile workforce and entrepreneurial base. Download A Timely Tax Cut: How New Hampshire is Taking Advantage of Massachusetts’ Graduated Income Tax Proposal…
This report finds that, under a graduated income tax, Massachusetts’ top marginal short-term capital gains tax rate would be the highest in the nation, exacerbating a tax and regulatory environment…
…assert that Proposition 80, a ballot initiative to install a graduated income tax for Massachusetts, violates the state constitution and should not be allowed to appear on the Commonwealth’s November…
…voters, the ballot question would place a 4 percent surtax on households and thousands of Massachusetts businesses that in any one year have income exceeding $1 million. Proponents of the…
…averages 35% of total income, that now this is all types of taxes, not just income taxes, 35% of income. And for the lowest quintile that accounts for only 7%….
…a proposed 4 percent surtax on high earners will raise nearly $2 billion per year for education and transportation, but similar tax hikes in other states resulted in highly discretionary…
…an increasing percentage of taxpayers. The graduated income tax proposal would raid the retirement nest eggs of Massachusetts residents by pushing households into a high tax bracket on the sales…
…gotten more successful, but he handles the tax, the, the taxation that, you know, the, the taxes for his, or the income from his business through his personal income tax…
…cut income taxes in recent years. New Hampshire has had a 5% tax on interest in dividends for a while, but what they don’t tax is wage income, right? So…
…stake is whether income must be realized in order to be taxable. Such a shift in definition could redefine all appreciation assets as taxable income, inviting investors to face a…
…top marginal tax rate was 91%, the lowest. The tax rate in the income tax structure was 20%. The corporate tax rate virtually for all companies was 52%. [00:07:24] So,…
…households. So under this provision taxpayers with $10 million in adjusted gross income would face a 5% Sur tax on income over that threshold, an 8% Sur tax on income…
…economist in me says, more supply generally means lower prices, so that sounds good. What’s an example of how a builder earns a low-income tax credit, or low-income housing tax…
…New Hampshire, which has no income tax, just voted to phase out its tax on interest and dividends. In 2021, 16 states cut income taxes; 13 more have income tax…
…income tax, a greater share of federal income tax than people who don’t have a college degree. Mark Kantrowitz: So is the federal government paying its fair share of college…
…highest tax states, especially the ones that have high income tax rates to lower tax states. And the states that don’t have income taxes, that’s pretty clear in the data….
…on top of the individual income tax. If the tax hike amendment is adopted, some S corporations would pay 12 percent of their taxable income above $1 million to the…
…the devastating and perhaps permanent impact of a graduated income tax – as much as $2 billion in lost taxable income,” said Pioneer Institute Executive Director Jim Stergios. “And calculating…
