The Millionaires’ Tax: How Will It Affect the General Public?
Daniel Ryan was quoted in the article, "The Millionaires’ Tax: How Will It Affect the General Public?," published by Sampan.
The article examines the discussion and debate surrounding an upcoming Massachusetts ballot question, commonly referred to as the “millionaires’ tax” but officially titled the “Fair Share Amendment,” which if approved by Massachusetts voters in November 2022 would increase taxes by 4% on state residents with annual income over $1 million.
“Should the amendment pass, there is no guarantee that state expenditures for education and transportation will increase," Dan commented. "The education and transportation expenditures could remain the same, and the Legislature could use funds formerly allocated to those areas to fund entirely unrelated areas. This was the experience in California following the passage of a similar ballot initiative.”