Creating tax fairness
March 31, 2021
Republicans in the state legislature oppose new taxes.
Always have, always will.
In his column in last week’s Weekly News, Senator Ron Muzzall follows the party line.
He opposes SB5096, recently passed by the state senate by a 25-24 margin, calling it an underhanded attempt to institute a state income tax.
He is wrong.
This bill is about tax fairness.
It would impose a 7% tax on capital gains over $250,000 a year.
It will affect only about eight thousand of the state’s almost eight million residents, and it would raise, according to estimates, about 550 million dollars a y...