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Filename AGrimDistinction-WP.pdf
Filesize 1 MB
Version 1
Date added April 26, 2021
Downloaded 426 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.