Some good tax news this week: Rhode Island has become the third state in 2026 to enact a millionaires tax. itep.org/rhode-island...
Do taxes on the very wealthy cause mass departures? No. Do they generate revenue to make life better for everyone? Yes.
Amy Hanauer
As cities face budget shortfalls, more are exploring ways to tax the wealthy.
Building a budget that doesn’t rest on the shoulders of its poorest residents is not only a moral imperative, it’s smart, responsible, and sustainable tax policy.
thephiladelphiacitizen.org/better-budge...
New York, Chicago and Pittsburgh have ideas to mitigate federal cuts. A local tax and economic policy analyst asks: Why don't we steal them?
The case for taxing the rich grows stronger every day.
WaPo is calling this a "tax on educated and married people." They clearly didn't read the latest details of the proposal.
The tax would only apply to those with incomes exceeding $500,000.
About 96% of the tax would be paid by people with incomes over $1 million.
Every time a state proposes a tax on the rich, someone predicts an exodus — like WaPo is doing now.
But it never happens.
The rich are deeply embedded in their communities and typically choose where to live based on many factors other than taxes.
www.vitalcitynyc.org/mamdani-tax-...
Most DC residents earn far less than the $500,000 threshold for this tax.
Among DC adults with incomes below $500,000, about 60% have bachelor’s degrees.
And at least 2/3 of the married people in DC would be exempt because they live in households with incomes below $500,000.
