News and perspective on public policy issues affecting Washington's economy and quality of life, brought to you by the Economic Opportunity Institute.
Imagine giving an extra 5% of the nation’s total annual income to the residents of Wasilla, Alaska starting in 1980, and you’ve got a good grasp of income inequality in the U.S. today. Thanks to lower tax rates for the rich and growing income inequality, $650 billion in wages that would have gone to middle-class [...]
A recent report by Sentier Research shows real median household income is continuing to decline for the American working and middle class. The typical household income has lost more income since the economy recovery supposedly began than during the Great Recession itself. During the official recession, which lasted from December 2007 to June 2009, American [...]
A recent study titled “The Impact of Taxes on Migration in New England” says that employment, family and education are the three primary reasons people (wealthy or not) move from one state to another. Taxes have little – if anything at all – to do with it: “Taxes [have] essentially no impact on causing people [...]
Initiative 1098 will lower property taxes on residential and commercial property owners, exempt 81% of Washington small businesses from B&O taxes, and reduce the B&O rate for another 12% of businesses. It will offset the revenue reductions with a tax on high incomes (5% on income above $200K/individual or $400K/joint, and 9% on income above [...]
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