"Households with incomes over $250,000 have saved more than $700 billion from the Bush tax cuts of 2001 and 2003. The proposed graduated surtax under the House Ways and Means Committee’s healthcare plan would take back $544 billion over the next 10 years, providing about half the cost of the entire plan, calculates the Joint Economic Committee of Congress."

Read the full article in the Christian Science Monitor

"Households with incomes over $250,000 have saved more than $700 billion from the Bush tax cuts of 2001 and 2003. The proposed graduated surtax under the House Ways and Means Committee’s healthcare plan would take back $544 billion over the next 10 years, providing about half the cost of the entire plan, calculates the Joint Economic Committee of Congress."

Read the full article in the Christian Science Monitor

On August 1, 2009, Massachusetts increased its sales tax from 5 percent to 6.25 percent to address a severe budget deficit. United for a Fair Economy believes that raising the sales tax was clearly preferable to slashing the budgets of vital public services. However, UFE is disappointed that the Massachusetts Legislature did not raise revenue through progressive sources such as the capital gains tax, the state estate tax, or the personal income tax.

The sales tax is the state’s most regressive major tax, meaning that low- and middle-income people pay a much higher percentage of their income towards it than wealthy people do. The overall Massachusetts tax system was regressive prior to the increase in the sales tax. Rather than raising needed revenue AND making the tax system more fair and progressive, the Massachusetts Legislature just made that system more burdensome for low and middle income families.

 

"Passed by the Democratic-led Oregon Legislature, one measure raises personal income taxes for individuals with taxable incomes of $125,000 a year or joint filers at more than $250,000. A separate measure raises corporate income taxes."

Read the full article by Brad Cain on Forbes.com.

Learn more about the work of Tax Fairness Oregon.

Alex Cane cites UFE's 2008 State of the Dream report, Foreclosed, in this critique.

Read the full article on Indypendent.com

"Corporate excess isn’t isolated within the confines of the boardroom; it’s enmeshed with institutions that keep wealth concentrated within an ever-shrinking minority. Whether they’re passing resolutions or marching on Wall Street, activists won’t dismantle inequality without pushing to comprehensively restructure the way the country’s resources are distributed."

Read the full article by Michelle Chen on InTheseTimes.com

"CEO pay has grown out of control over the past couple decades.  What will it take to get Pandora back in the box?  Transparency is a start.  The right of shareholders to vote on pay is a good next step.  But what we ultimately need is a wholesale transformation in the make-up and thinking of boards and compensation committees."

Read the full article by Mike Lapham, Responsible Wealth Project Director, in The Durango Herald.

"If our elected officials are serious about strengthening the middle class and fostering a more broadly shared prosperity, let them take a moment to consider the wisdom of our forebears."

Read the full article by Brian Miller in the Williston Observer.

 

July 2009:

- Financial Regulation: Which Way is Forward?

- Special Offer to UFE Members from YES! Magazine

- Taxes: A State Budget's Best Friend

- Pope Benedict XVI Calls for a New Economy

 

 

 

New Hampshire lawmakers missed a chance to reduce economic inequality while closing the state's $190 million budget deficit.  The NH House and Senate have passed a budget that rejects both a tax on capital gains and a state estate tax.

Read more in this editorial from the Concord Monitor.

"The Obama administration received plenty of attention in the past few days for pushing legislation that would require public companies to run their top executive pay packages by shareholders each year. [...] When President Obama finally signs this bill, he'll have some energetic watchdogs in Boston to thank for its success."

Read more in this article by John Chesto.

Dear NH supporter of United for a Fair Economy,

New Hampshire faces a clear choice between a budget with revenue from progressive taxes paid by the very wealthy, OR revenue from gambling. It’s time to let your lawmakers know what you want.

The NH Senate budget fills the deficit with revenue from gambling and a suspension of a business tax credit. The NH House budget contains a new capital gains tax and an estate tax on estates larger than $2 million – both taxes would be paid primarily by very wealthy people. Now the final version of the budget will be decided in a House-Senate conference committee, followed by a vote in the House and Senate. The legislature has to pass a final budget by the end of June.

UFE believes progressive taxation – people paying taxes based on their ability to pay – is fundamental to a fair society, a healthy economy, and true democracy. Your Senator, Representative and Governor Lynch need to hear from you that paying for the budget in a fair way is something you care about. When the legislature is making major funding cuts in needed social programs because of budget deficits, the estate tax can help your state meet its obligations to those who have nowhere else to turn.

Please call and email your legislators now; phone calls are more effective. For additional information regarding the NH estate tax, see former NH State Representative, Michael Marsh’s, NH Estate Tax Fact Sheet.

HOW TO TAKE ACTION:

Click here to find contact information for your Senator and Representative, or call (603) 271-2111 to be connected to your Senator.

Send your message to the entire House of Representatives at either of the following addresses:

• [email protected]
• [email protected]

To contact Governor Lynch, click here or call (603) 271-2121.

Write a letter to your local newspaper. If your letter gets published, send a copy to your legislators and to UFE.

Forward this email to friends, family and colleagues in NH who may want to take action.

After taking action, let me know what you find out by sending me an email at [email protected].

Thanks for taking action to promote a fair economy,

Lee Farris
Estate Tax Policy Coordinator
United for a Fair Economy
617-423-2148 x133
[email protected]