A new report from a nonpartisan policy center at Tufts University finds a proposed state tax on income and profit over $1 million could help reduce inequality. But the report also raises questions about how the money would be spent.
As the income tax filing deadline approaches, taxpayers will be facing unexpected tax situations brought about by the turbulent events of last year. from the nonpartisan Center for State Policy Analysis at Tufts University finds a proposed state tax on income and profit over $1 million could help reduce inequality.Researchers analyzed the so-called"millionaires tax," which would add a 4% tax on income over $1 million.
Massachusetts currently taxes all income at the same rate: 5%. The ballot question would etch the surtax on high earners into the state's constitution. Proponents of the measure say the additional revenue would fund education and transportation. Where the money goes"depends on a lot of different factors," Horowitz said."How strong are the unions pushing for you to use this money in a particular way? How accountable are your politicians? How easy is it to count up the money?"
Part of the Tufts report looked at whether more spending on education and transportation leads to better outcomes. Researchers found an extremely strong correlation between higher education spending and better student outcomes. They did not find a clear correlation between higher spending on transportation and overall economic growth.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Tea Habit May Help You Live Longer, New Study Suggests — Eat This Not ThatThis new study found that drinking just two or more cups of black tea a day can help you live longer and reduce your risk of disease.
Read more »
A New Study Suggests a Specific Walk-Sit Routine to Get a Baby to SleepOne Japanese study found that carrying a crying infant in your arms for five minutes can help reduce their heart rate and promote sleep.
Read more »
Commissioner Cagle, Ramsey speak out defending decision to skip tax rate and budget meetingThe two Harris County commissioners who skipped Tuesday’s meeting to approve a tax rate and proposed budget stuck by their decision which forced the county to adopt a no new revenue rate.
Read more »
Ketamine Linked to Reduced Suicidal Thoughts, Depression, AnxietyKetamine infusions can help reduce symptoms of suicidal ideation, depression, and anxiety in patients with treatment-resistant depression, a new 'real world' study suggests.
Read more »