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New Data Shows the Number of Millionaires and their Wealth Expands After Higher State Taxes on High-Income Earners: Revenue and Potential in MA, NY, RI, and WA

A new analysis from the Institute for Policy Studies and the State Revenue Alliance demonstrates how taxing wealthy residents at a higher rate in states can raise revenue and improve communities’ quality of life – and how a two percent wealth tax on high-net worth individuals could increase revenue even further.