Unlike the federal government, individual states really do need to “find the money” to pay for their spending. And since more than 60 percent of the nation’s wealth resides in these states, it’s easy to see why lawmakers have focused on their high net worth residents.
The Lens
Eight States Have Joined Forces to Raise Taxes on America's Wealthiest
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
Eight States Have Joined Forces to Raise Taxes on America's Wealthiest
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders