Wednesday, January 16, 2019

MassBudget: 14 Options for Raising Progressive Revenue

MassBudget  Information.
 Massachusetts Budget and Policy Center  Democracy.
January 15, 2019

14 Options for Raising Progressive Revenue

Good schools, public parks, reliable transit, and smooth roads help increase well-being and make a community prosperous. Together, we pay for these fundamentals through state and local taxes.
How to collect enough revenue to pay for these investments - and how to collect that revenue fairly - are questions that every community, including our Commonwealth, must answer.
Massachusetts' state and local tax system remains "regressive," meaning low- and moderate-income taxpayers pay a larger share of their incomes in taxes than those with higher incomes. A "progressive" tax system is one in which higher-income taxpayers pay a larger percentage of their incomes in taxes.
A new Massachusetts Budget and Policy Center (MassBudget) paper, 14 Options for Raising Progressive Revenue, explores ways the Commonwealth could make its tax system more progressive.
MassBudget: 14 Options for Raising Progressive Revenue
The options described in the paper include:
  • Personal income tax options, like raising both the personal income tax rate and progressive exemptions,
  • Wealth tax options, like raising the estate tax, and
  • Business tax options, like enacting a surtax on companies where CEOs' pay rates are excessively high compared with median worker pay rates.
Read a PDF version of the report.
The Massachusetts Budget and Policy Center (MassBudget) produces policy research, analysis, and data-driven recommendations focused on improving the lives of low- and middle-income children and adults, strengthening our state's economy, and enhancing the quality of life in Massachusetts.

BOSTON, MA 02108

Massachusetts Budget and Policy Center, 15 Court Square, Suite 700, Boston, MA 02108

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