OrderedFromMeVille
Taxing the rich, I mean.
Well, in a US'ian state formerly run by a guy named Romney that is not actually dominated by the books of Mormons, it would appear that directly taxing the rich does, indeed, work.
In fact, in the past year it worked even better than expected as noted by Julia Conley writing in Common Dreams:
Taxing the rich, I mean.
Well, in a US'ian state formerly run by a guy named Romney that is not actually dominated by the books of Mormons, it would appear that directly taxing the rich does, indeed, work.
In fact, in the past year it worked even better than expected as noted by Julia Conley writing in Common Dreams:
A new "millionaire's tax" in Massachusetts was expected to generate $1 billion in revenue last year to help pay for public education, infrastructure, and early childcare programs, but projections were a bit off, according to a fresh state analysis.
The state Department of Revenue estimated late last week that the Fair Share Amendment, which requires people with incomes over $1 million, to pay a 4% annual surtax, will add $1.5 billion to state coffers this fiscal year, which ends in June—surpassing expectations.
Universal free school meals, much-needed improvements to an aging public transportation system, and tuition-free education for community college students are just some of the programs Massachusetts' wealthiest residents have helped pay for after voters approved the law in 2022 amid growing calls across the United States to tax the richest households and corporations...
And how did this come to be?
Why, via a state-wide, non-gerrymandered referendum, that's how.
Imagine that!
Why, via a state-wide, non-gerrymandered referendum, that's how.
Imagine that!
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Tip 'O The Toque to the always fantastic and thoroughly progressively informative links round-up over at Greg Fingas' 'Accidental Deliberations'...
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4 comments:
That certainly is a tax which is long over due in Canada. It certainly would provide the necessary funds for such things as health care, more medical staff, food programs. The basics which are lacking for so many people.
Canadian corporations think they have done enough for the country by providing jobs. However, it is the tax payers of this country who provide the infrastructure which enables the companies to operate. Corporations are provided with an educated work force, police, fire departments, highways, etc. Do any of these corporations return the "favour". Not so much. The employees usually don't have pensions and when they retire, they're on poverty row and some elderly are homeless. Yes, it definitely time for Canada or any province to implent this tax and that it be used for "social programs"
What is really needed is a fair taxation schedule, without loopholes, that will never happen because the wealthy tend to control the politicians of all politcal parties.
Personally I believe all politicians and bureaucrats should pay 50% of all income over $100K per year.
The huge salaries paid to the bureaucratic and politcal classes of people have left them disjointed from the realities of the common Canadian.
Writing a letter to the local rag about my $22 Carbon Tax rebate (why bother) I found, via Google that my MP was making a cool $420K annually!
With that type of income, I can well see why she doesn't give a damn about us, the peons!
https://www.bnnbloomberg.ca/canada-s-100-highest-paid-ceos-broke-new-compensation-records-in-2022-report-1.2017064
One has to wonder with so much compensation in the pocket , how good a tax lawyer do you hire to hide your monies in tax havens?
TB
You don’t need a lawyer. Just go to some banks in Delaware, Wyoming and Nevada to open bank accounts that keeps the owner a secret from the tax authorities. DJF
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