The Deduction

Wealth Taxes Reach the States

January 26, 2023 Tax Foundation
The Deduction
Wealth Taxes Reach the States
Show Notes

Since 2021, 43 states have provided substantial tax relief for taxpayers and businesses. But this year, a new trend has emerged in the opposite direction: a push for states to tax investment.

From coordinated wealth tax proposals to higher capital gains income taxes, some state legislatures are going after high earners.

Jared Walczak, V.P. of State Projects at the Tax Foundation, joins Jesse to discuss how these measures would affect investment, job creation, and migration between states—and why they’re happening now.

Links:
https://taxfoundation.org/state-wealth-tax-proposals/
https://taxfoundation.org/state-population-change-2022/
https://taxfoundation.org/2023-state-tax-changes/

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