https://pioneerinstitute.org/wp-content/uploads/Untitled-design-2022-09-30T093943.616.png 512 1000 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2022-09-30 09:01:112022-09-30 09:40:33How would a tax increase impact the MA economy?LinkedIn
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Pioneer’s Charlie Chieppo explains how an income tax hike in Massachusetts will impact retirees and small business owners – not just the “super rich.”
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Additional Pioneer reports on the Mass. economy:
https://pioneerinstitute.org/wp-content/uploads/WordPress-Blog-Post-Featured-Image-2-2.png 512 1024 Jim Stergios https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Jim Stergios2021-03-10 13:08:382021-12-29 12:24:38A wealth tax, a SCOTUS case, and a likely Mass. exodus
Op-ed in The Boston Globe: A case New Hampshire filed with the US Supreme Court last October against the Commonwealth of Massachusetts could have a huge impact on state finances nationwide. It also raises the stakes as the Massachusetts Legislature considers amending the state constitution to eliminate the state’s prohibition against a graduated income tax and to hike taxes on high earners.
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Advocates claim 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 rather than targeted spending, according to a new policy brief published by Pioneer Institute. That same result or worse is possible in Massachusetts because during the 2019 constitutional convention state legislators rejected — not just one, but two — proposed amendments requiring that the new revenues be directed to these purposes.
https://pioneerinstitute.org/wp-content/uploads/WordPress-Blog-Post-Featured-Image-1-2.png 512 1024 Jim Stergios https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Jim Stergios2021-03-03 09:12:142021-12-29 12:16:42Enacting ‘Millionaires’ Taxes’ Will Set Back State Recoveries
Even as countless citizens and businesses are struggling, many state governments are faced with large deficits that hinder their ability to help. As a result, some, such as Massachusetts, are considering raising taxes on high-earners to generate revenue. But in its report, “Connecticut’s Dangerous Game: How the Nation’s Wealthiest State Scared Off Businesses and Worsened Its Financial Crisis,” the Boston-based Pioneer Institute provides a cautionary tale about the dangers of going down the path taken by the Bay State’s neighbor, Connecticut.
https://pioneerinstitute.org/wp-content/uploads/CA-report-2.png 512 1024 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-03-02 05:55:462021-03-02 06:36:19Report: Proposed Graduated Income Tax Might Not Increase State Education and Transportation Spending
While supporters of a state constitutional amendment that would impose a 4 percent tax rate hike on annual income over $1 million claim additional revenue from the surtax will fund public education and transportation needs, the amendment in no way assures that there will be new spending on these priorities. In fact, without violating the amendment, total state education and transportation funding could stay the same or even fall, according to a new review published by Pioneer Institute.
https://pioneerinstitute.org/wp-content/uploads/Fig1-5.png 601 923 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-02-22 05:18:182021-02-22 06:08:55New Study Highlights Economic Fallout from California’s 2012 Tax Hike
A 2012 income and sales tax increase in California, named “Proposition 30,” stifled business activity, accelerated out-migration among the wealthy, and ultimately reduced the state’s tax base, according to a new study published by Pioneer Institute that aims to share empirical data about the impact of tax policy decisions.
https://pioneerinstitute.org/wp-content/uploads/mikula.jpg 200 200 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-02-16 10:25:162021-02-16 10:25:16Wealth Migration Trends: Remote Work Technology Empowers Workers to Live Anywhere
Host Joe Selvaggi talks with Pioneer Institute’s Andrew Mikula about his recent research into migration trends of high-income individuals, how pandemic-related technologies may accelerate that movement, and what challenges these changes present for policy makers.
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Both employers and households will find it easier to leave major job centers as technologies made commonplace by the COVID-19 pandemic have led to a rethinking of the geography of work, according to a new study published by Pioneer Institute.
https://pioneerinstitute.org/wp-content/uploads/somin.jpg 600 600 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-02-09 09:23:132021-03-22 13:56:19Interstate Legal Skirmish: New Hampshire Takes Massachusetts Telecommuter Tax to the Supreme Court
Host Joe Selvaggi talks with legal scholar and George Mason University Law Professor Ilya Somin about the details, the merits, and the likely implications of the Supreme Court case, New Hampshire v. Massachusetts, on state taxation power, federalism, and the power to vote with one’s feet.
https://pioneerinstitute.org/wp-content/uploads/Hubwonk-Template-3.png 512 1024 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-02-02 10:39:172021-03-22 13:59:02Connecticut’s Painful Journey: Wealth Squandered, Lessons Learned, Promise Explored
Host Joe Selvaggi talks with Connecticut Business and Industry Association’s President and CEO, Chris DiPentima, about what policy makers can learn from Connecticut’s journey from the wealthiest state in the nation, to one with more than a decade of negative job growth.
https://pioneerinstitute.org/wp-content/uploads/Fig1-3.png 652 923 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-02-01 05:10:572021-07-22 09:09:56New Study Shows Significant Wealth Migration from Massachusetts to Florida, New Hampshire
Over the last 25 years, Massachusetts has consistently lost taxable income, especially to Florida and New Hampshire, via out-migration of the wealthy, according to a new Pioneer Institute study. In “Do The Wealthy Migrate Away From High-Tax States? A Comparison of Adjusted Gross Income Changes in Massachusetts and Florida,” Pioneer Institute Research Director Greg Sullivan and Research Assistant Andrew Mikula draw on IRS data showing aggregate migration flows by amount of adjusted gross income (AGI). The data show a persistent trend of wealth leaving high-tax states for low-tax ones, especially in the Sun Belt.
https://pioneerinstitute.org/wp-content/uploads/Hubwonk-Template-2.png 512 1024 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-01-26 10:50:162021-03-22 12:11:55Intrepid Restauranteurs Endure: Passion for Community, Patrons, and Staff Mean Failure is Not on the Menu
Host Joe Selvaggi talks with Massachusetts Restaurant Association President and CEO Bob Luz about the devastating effects of the pandemic and lockdowns on restaurants. They discuss the industry's creative strategy for survival, plans for reaching beyond the crisis, and the many positive improvements for this vital sector that employs 10% of the workforce in the commonwealth.
https://pioneerinstitute.org/wp-content/uploads/JoshRauh.jpg 390 278 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2021-01-19 10:47:172021-03-22 13:59:45California Tax Experiment: Policy Makers Receive Valuable Economics Lesson
Host Joe Selvaggi talks with Stanford University Economics Professor Joshua Rauh about his research on the reaction of Californians to a tax increase, from his report, “The Behavioral Response to State Income Taxation of High Earners, Evidence from California.” Prof. Rauh shares how his research offers tax policy makers insight into the likely effects of similar increases in their own states, including here in Massachusetts.