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Final Tax Package Can Improve Tax Fairness & Help Build Toward Shared Prosperity
Currently, a conference committee is working on a compromise tax package between the House's and Senate's proposals. The fairest tax package would be one that
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UPDATED: High-Income Households Are Not Fleeing Massachusetts
Massachusetts has a lower rate of outmigration among high-income households than among other households. This is true both in the most recent year for which
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Debunking the Five Major Myths About Outmigration
Recently, multiple news articles, op-eds, and think tank reports have asserted that Massachusetts is suffering an exodus of households, particularly high-income households, fleeing to states
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Estate Tax Cuts Worsen Our Large Racial Wealth Gap
If lawmakers cut the Massachusetts estate tax, it is a small number of high-income, white households that will receive the overwhelming share of the benefits.
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Estate Tax Cut Proposals Are Costly and Poorly Targeted – Alternative Solutions Exist
Current estate tax proposals would lead to a loss of state revenue and reduce the Commonwealth’s ability to make crucial investments, while having regressive impacts
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High-Income Households Are Not Fleeing Massachusetts
Internal Revenue Service (IRS) data show that Massachusetts has low rates of out-migration among high-income households compared to other states. As a consequence, delivering large
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Governor’s Estate Tax Plan Is Costly and Gives Biggest Breaks to Largest Estates – Better Options Exist
During the current legislative session, lawmakers will consider a number of proposals for changing the Massachusetts estate tax. Two proposals are compared here – one
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With Rainy Day Fund Filling Up Fast, It’s Time to Invest in Community Needs
The state’s rainy day fund is fast approaching its capped “allowable balance.” It could exceed the cap at the end of Fiscal Year 2024. With
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Fair Share Would Increase Total Tax Rates Only Modestly for Most with Incomes Over $1 Million
Because the Fair Share surtax would apply a 4 percent surtax only to the portion of a household’s taxable income above $1 million, the total
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Very Few Small Businesses Sell for More Than $1 Million; Even Fewer Would be Subject to Fair Share
Will small business owners be subject to the proposed Fair Share tax if and when they sell their businesses? Very unlikely.
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