Don’t Take Us Back to Taxachusetts

by Banker & Tradesman | Jan 28, 2018

Proponents of a 2018 statewide ballot initiative that would add a surcharge on the state taxes of those earning over $1 million annually should look at the experience of Connecticut, where multiple rounds of tax hikes aimed at high earners triggered an exodus of large employers and high-earning individuals that resulted in declining tax revenue, according to a new whitepaper published by the Pioneer Institute.