December 10, 2021

Bloomberg: SALT Debate Forces Rich Americans to Confront Widening Tax Gap

media mention

Lawmakers in Arizona, Arkansas, Idaho, Iowa, Louisiana, Missouri, Montana, North Carolina, Ohio and Oklahoma have also approved cuts to their top personal income tax going into effect either this year or in future years.

“There are states moving in different directions,” said Carl Davis, research director at the left-leaning Institute on Taxation and Economic Policy. In Blue states, tax hikes are being floated by Democratic lawmakers as a partial solution to “a period of drastically widening inequality,” he said, while in Red states, “a lot of times these are sold as being part of an economic development strategy.” Read more