… the Cain plan would give the very richest taxpayers an average tax cut of almost $1.7 million. [but] A typical middle class taxpayer would pay about $3,000 more.Low-income Americans would be hit hard. Instead of getting tax rebates, they would face a tax increase of almost $1,700.
When the non-partisan Politifact looked at the Tax Policy Center’s analysis, they found that:
83.8 percent of tax filers would get a tax increase under Cain’s plan.
On the other hand, most of the tax filers who make more than $1 million would get a tax cut under the Cain plan … And the average tax cut for millionaires would be $487,300.
As Robertson Williams, a Senior Fellow at The Tax Policy Center put it: “the rich would make out like bandits”
By wide margins, Americans are now telling pollsters they want a tax system that raises more money and is more fair by asking the rich to pay more. They are connecting the dots between the lavish high-end tax cuts of the past decade and today’s serious problems — including widening inequality and mounting deficits — and demanding change.
An Act to Invest in Our Communities (House Docket 255302261 & Senate Docket 014161012: click links on bill #s to see the Bill's progress thru the legislative process. UPDATE: GENERAL HEARING SCHEDULED FOR 5/5/2011--please contact your legislator ASAP)
Nice overview of what's true/false about taxes in Massachusetts and why we are where we are today.
We need lots of grassroots pressure on the legislature to pass this. Please contact your representatives and urge their support--and ADVOCACY!--of "An Act to Invest in Our Communities".
The fact is, our communities can’t afford more cuts, especially not two billion dollars. This is the time to invest in our communities, to keep the quality schools and services that make our state a good place to live and do business.// Everyone has programs and services they want the government to spend money on, but very few want to talk about how those services are paid for – with tax dollars. We all need to do a better job of being honest about the reality of our budget, and what we do and do not value as a Commonwealth.
Response from State Sen. Ross, 4/13/2011
Thank you for contacting my office about the “Act to Invest in our Communities “ bill. In this difficult economic times it is crucial to continue to invest in our public infrastructure to continue to provide for the high quality services the people of the Commonwealth have come to expect from their government institutions. That being said we must also find a way to encourage business growth and reduce the unacceptably high unemployment rate. While these problems seem disconnected, they both impact the already strained budget that the legislature is beginning to tackle in the coming weeks and months.
That is why I will be interested in the information and financial analysis that will come to light after the public hearing of An Act to Invest in Our Communities. While I appreciate the creative approach to raising revenues, we need to know more about the broad impact of this legislation on the Commonwealth and on the services, such as education, that you mentioned.
Thank you for contacting me and if you have any future questions or concerns please contact my office.
