BOSTON (CBS) — Eileen McAnneny, president of the non-partisan watchdog group the Massachusetts Taxpayers Foundation, says her group is against a proposal to impose a new graduated income tax that some have dubbed the “millionaire tax.”
The money from that tax, which would be levied on people making over $1 million a year, would go toward public education and infrastructure–but McAnneny says that isn’t guaranteed.
“There is no guarantee that it will, in fact,” said McAnneny. “If there were a guarantee, then the ballot initiative couldn’t be in front of the voters, because the Constitution says that you cannot put a specific appropriation on the ballot.”
McAnneny sat down with WBZ political analyst Jon Keller to talk about taxpayers’ money and how it’s being spent and taxed on Beacon Hill. She further explained her stance against the proposed “millionaire’s tax,” which cleared its first hurdle in the legislature last week.
“We’re essentially placing a big bet on a small group of taxpayers, about one half of one percent of taxpayers, and we’re doubling down on our reliance on capital gains, and that’s a problem,” said McAnneny. “Capital gains is very volatile. It follows the economy, so there are big swings.”
Keller and McAnneny also talked about Gov. Charlie Baker’s position on the proposed tax, and a recent UMass analysis of the state’s economy.
You can listen to Keller At Large on WBZ News Radio every weekday at 7:55 a.m. You can also watch Jon on WBZ-TV News.