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| Filename | AGrimDistinction-WP.pdf |
| Filesize | 1.08 MB |
| Version | 1 |
| Date added | April 26, 2021 |
| Downloaded | 13805 times |
| Category | Economic Opportunity, Massachusetts Economy, White Papers |
Date: April 26, 2021
Authors: Greg Sullivan & Andrew Mikula
This report shows 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 that has made it hard for day traders and other investors to contribute to Massachusetts’ economy. By imposing a 4 percent income on all annual income over $1 million, including capital gains, the graduated income tax would penalize the capital formation that is the key to long-term growth and higher living standards for all in the Commonwealth.