Giving massive tax cuts to those most able to help pay for critical social programs exacerbates inequality and stalls the economy—it's time for an overhaul.
Managing state spending during hard times is, well, hard; but the Great Recession has clear lessons about what services are just too critical to cut.
The figures from the Council on Revenues are in: there is enough added revenue from increased income taxes on the wealthy to pay for an expansion of the most successful anti-poverty tax credit currently available.
The first of a two-part analysis of the results of the increasingly opaque state budget process this past legislative session, and what we can expect in terms of revenues, funding and expenditures for the upcoming 2020 fiscal year that begins July 1, 2019.
Our taxes support essential social programs like Medicare, Medicaid and Social Security, as well as infrastructure, education, national defense and the environment. Tax credits help alleviate the tax burden from a regressive system that takes more from poor people than rich. Several measures in the state legislature aim to address this imbalance, and generate more revenue for the state.
Shifting some of the state’s tax burden would result in a more equitable, and profitable, system.
Good health isn’t just a result of having health insurance. Public policy affects health outcomes for people across the state, and we should make forward-thinking reforms to expand access to housing, nutrition, early childhood education and more, if we hope to keep Hawaiʻi at the top of the national health rankings.