How some states are reviving a push to tax the rich
Summary
Some U.S. states are considering or have implemented higher taxes on people with very high incomes. The goal is to increase taxes for those who earn over $1 million a year in certain states.Key Facts
- Chuck Collins, who inherited money from the Oscar Mayer company, supports higher taxes for the wealthy.
- Massachusetts has a higher tax rate for incomes over $1 million.
- Other states like California, Maryland, Minnesota, and New Jersey have adopted similar tax policies.
- Washington state, which currently does not have an income tax, is considering a new tax for millionaires.
- Lawmakers are working on measures to increase taxes for the rich in these states.
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