QUESTION ONE means FAIR TAXES and MORE MONEY for education and public transportation.
The Fair Share Amendment (Question 1) proposes a 4% tax on the portion of a person’s annual income over $1 million.
It is projected to raise over $2 billion in revenue for public education and infrastructure.
La PREGUNTA UNO significa IMPUESTOS JUSTOS y MÁS DINERO para la educación y el transporte público.
La Pregunta 1 propone un impuesto del 4% sobre la porción del ingreso anual de una persona que supere el millón de dólares.
Se proyecta recaudar más de $2 mil millones en ingresos para la educación pública y la infraestructura.
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We also urge you to vote YES on Question 4!
A YES vote on Question 4 will sustain current law, which allows all people to obtain Mass. driver’s licenses regardless of immigration status.
See more information here.
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Complete el formulario a continuación si está interesado en ayudar a aprobar la Pregunta 1.
TEN QUESTIONS
What would the Fair Share Amendment do?
It would apply an extra 4 percent tax to the portion of a person’s annual income above $1 million and constitutionally dedicate the funds to be spent on transportation and public education.
Who pays?
Only people who earn more than $1 million annually will pay more. 99% of us won’t pay a penny more. And we’ll all benefit from better schools, colleges, roads, bridges, and public transportation.
Why?
Currently, the top 1% only pay 6.8% of their income in taxes while everyone else pays 8.9% of their income in taxes. The Fair Share Amendment would help bridge that gap by making the top 1% pay 8.7% of their income in taxes, thereby leveling the playing field.
How does this affect the middle class?
The average annual salaries for doctors, dentists, lawyers, computer programmers, and even chief executives in Massachusetts are all under $250,000 – not even lose to the $1 million threshold that would be affected by the millionaire’s tax.
What if I sell my home or business?
When a property or business is sold, only the gain in value, not the sale price, is subject to income tax. Only a tiny percentage of home sellers (less than 1%) would see their taxable income rise above $1 million.
What can the money be spent on?
New public school buildings with great educators, safer roads and bridges, affordable public college, access to vocational education and job training programs, fast and reliable public transportation, and pre-K classrooms for every child are just a few options.
What about small business owners?
Question 1 is a tax on personal income over $1 million. Business taxes would not increase. Less than 3% of business owners in Massachusetts have taxable personal income over $1 million that would be subject to Question 1.
How much money will this raise?
MassBudget estimates the revenue gain from the Fair Share Amendment at more than $2 billion per year, with some estimates as high as $2.7 billion per year.
Is the money guaranteed to those areas?
Dedicating the funding from Question 1 in the text of the constitution means that the legislators would be constitutionally required to spend this new money on transportation and public education.
What is the point?
By making 0.6% of Massachusetts’ wealthiest households pay their fair share in taxes, we can improve infrastructure and public education at all levels, thereby achieving a more equitable Massachusetts.
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