Millionaire’s tax proponents launch vote campaign
The group leading the drive to tax income over $1 million launched their campaign to amend the state’s constitution Wednesday, virtually gathering proponents to call for passage of the Fair Share Amendment.
“It isn’t just about millionaires, it’s about investing in working people and our communities,” Hope Tripp, a union healthcare worker from Brockton said via Zoom. “As we look to the future, we cannot ignore the lessons the pandemic has taught us. For all of us to thrive, we must pay it forward. That starts with the Fair Share Amendment.”
The Fair Share Amendment would amend the state’s constitution by adding a 4% surtax on income over $1 million. Estimates say that may bring $1.3 billion to $2 billion into state coffers yearly. Income under $1 million would continue to be taxed at 5%.
A $1 million earner pays $50,000 in state income tax. Under the Fair Share Amendment they would pay no more, but if their income went up to $1.1 million, or by $100,000, their tax bill would go up by $4,000 to $54,000.
The amendment includes provisions to adjust the income benchmark for the surtax.
The Legislature approved placement of the Fair Share Amendment on the November ballot in June. Polls show the amendment has high support.
Raise Up Massachusetts, the coalition behind the ballot question, brought together faith and municipal leaders, small business owners, teachers and transit riders for their campaign launch, all of whom called on voters to approve an amendment they say will radically alter the state of the commonwealth’s education system and fix our crumbling infrastructure.
“This is the opportunity we have been waiting for, to finally have fully staffed and fully funded schools,” Saul Ramos, a Worcester educator who works with visually impaired students, said virtually. “While millionaires are taking joy rides into space, our teachers are reaching into their pocket books to buy school supplies.”
Opponents of the Fair Share Amendment sued over the language question. Last week they told the state’s highest court it is misleading when it states money raised will be spent on education and transportation.
David Tuerck, president of the Beacon Hill Institute, filed an amicus brief in the case. A cigarette tax passed in 1992 also had a firm destination, he said.
“The amicus we filed with the court shows that less than 25% of the revenue from the 1992 ballot question was being used for the purpose voters had in mind,” he said last week.
Andrew Farnitano, a spokesperson for the Fair Share for Massachusetts campaign, said the language of the amendment can be written to constitutionally obligate spending on education and transportation.
Gerly Adrien, owner of Tipping Cow Ice Cream in Somerville and Boston, challenged her fellow small business owners to honestly assess their incomes before they decline to support the amendment.
“Ask yourself, did you make $1 million last year in income — not your revenue, your personal income?” she said.