If you listen to most politicians in Rhode Island, they will try to tell you that we can’t tax the rich because “they might leave us!” Well, if we had national legislation to tax the rich such as Sen. Sheldon Whitehouse is proposing, they wouldn’t have anywhere to go. And furthermore, it’s just not true that our neighboring states are tax havens compared to us. From RI FUTURE (still one of the only sources for independent political thought in the state!):
The median state is Mississippi. The poorest 20% pay about 10.8% of their total income in taxes. The top 1%, OTOH, only pay 5.5% of their income.
In other words, the effective tax rate of the bottom 20% is about twice as high as the tax rate for the top%–despite paying no fed taxes.
And how does RI stack up? We’re worse.
Here, the bottom 20% pays about 11.9%, while the top 1% pays 5.5%.
In other words, the bottom 20% pays a rate that is more than twice the rate paid by the top 1%.
And Mass is two spots worse, CT is one spot better, so spare me the “Oh, I could just move to Mass and save all this money” lie. And founder of a certain ‘alternative’ party, I’m looking at you.
This story was picked up by Ted Nesi at WPRI Eyewitness news. You know the local mainstream media isn’t running the way it used to (yes, Projo, I’m looking at you) when we are getting some of our better news analysis from nom de plume bloggers.