Economists Agree: Income Tax Cuts Didn’t Work
While conservative activists claim the Ocean State can cut its way back to prosperity, most academic economic studies agree that lowering income tax rates hasn’t worked that way, according to a new report from the Center for Budget and Policy Priorities. In fact, the study uses Rhode Island’s recent income tax cuts as an example [...]
Report Confirms Rhode Island Taxes Are Regressive
A new report confirms what progressives have saying for several legislative sessions now: Rhode Island needs tax equity. According to the nonpartisan Institute on Taxation and Economic Policy report the poorest Rhode Islanders will pay more than twice as much in percentage of income than will the richest residents of the Ocean State. Rhode Island [...]
RI – What Went Wrong: Tax Cuts for the Affluent
In the previous installment I discussed the devastation wrought by massive austerity, which was the principle cause of Rhode Island’s terrible jobs picture. The traditional justification from austerity apologists is that those public sector cuts were necessary, and Rhode Island was forced to make those layoffs. Of course, this argument makes no sense in Rhode [...]
Rhode Islanders for Tax Equity Meets Today
There’s a broad-based coalition building around a bill that would raise income taxes on the wealthiest Rhode Islanders. The coalition includes legislators, labor leaders, small business owners, parents, college students and a at least one mayor. Pawtucket Mayor Don Grebian will join the other members of this coalition, called Rhode Islanders for Tax Equity, today [...]
Proposal to tax the richest Rhode Islanders
As Rhode Island struggles to pull itself out of the recession many have been asked to sacrifice. Cities and towns have seen drastic cuts in state aid, schools have had their budgets cut, the poor have endured program cuts and public sector employees have had their benefits slashed. Now it’s time to ask Rhode Island’s [...]
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