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|Date added||June 16, 2021|
|Category||Economic Opportunity, Massachusetts Economy, Policy Briefs, State Budget|
Date: June 17, 2021
Author: Andrew Mikula
A new literature review by Pioneer Institute shows that many existing academic studies find that wealthy individuals are particularly sensitive to changes in tax policy. Other studies explicitly warn policymakers that behavioral responses to taxing the rich could erode the tax base and ultimately strain state budgets. The Pioneer Institute study ties the results of these academic pieces into Massachusetts’ current graduated income tax proposal.