State & Local Taxes in Massachusetts Fall 2009 Listening Tour Representative Jay R. Kaufman Senator Benjamin B. Downing House Chair Senate Chair.

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Presentation transcript:

State & Local Taxes in Massachusetts Fall 2009 Listening Tour Representative Jay R. Kaufman Senator Benjamin B. Downing House Chair Senate Chair

Source: FY 2006 Massachusetts State & Local Revenue, US Census Bureau

Source: Executive Office of Administration & Finance, FY 2008

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

Source: Massachusetts Budget & Policy Center Fiscal Year State & Local Taxes as a % of Personal Income

Source: Massachusetts Budget & Policy Center Fiscal Year 2007 State & Local Taxes as a % of Personal Income

Source: Massachusetts Budget & Policy Center Income Tax ($1.4b)

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

Source: Institute for Taxation & Economic Policy, State & Local Taxes Shares of Family Income Income Ranges Less than $18,000 $18,000 to $34,000 $34,000 to $58,000 $58,000 to $97,000 $97,000 to $203,000 $203,000 to $526,000 $526,000 or more Top 20 %

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

Source: Massachusetts Taxpayers Foundation * 2009 & 2010 Estimates Executive Office of Administration & Finance Capital Gains Revenue FY 2000 to FY 2010

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity

 Adequacy  Fairness/Equity  Certainty/Stability  Congruency with Policy Goals  Responsibilities and Authority Aligned  Efficiency (Administrative and Economic)  Transparency  Simplicity