Taxes Still Affect Economic Growth, Contrary to Findings of Flawed IPS Study

Taxes Still Affect Economic Growth, Contrary to Findings of Flawed IPS Study

The Institute for Policy Studies (IPS) only succeeds in demonstrating that America has more millionaires than it used to, not that high-tax states are doing well in attracting or retaining them.

Painting a Phony Rosy Picture By Numbers: 7 Reasons the Institute for Policy Studies Gets It So Wrong

“‘All is for the best, in the best of all possible worlds,’ said Candide — just before disaster struck yet again.” The Institute for Policy Studies’(IPS)  report on millionaire surtaxes reads much the same way: a rosy story spun from selective numbers, wishful thinking, and an eagerness to ignore the warning signs. The new study claims that Massachusetts’ 2022 surtax on millionaires has produced a windfall of new revenue — without scaring away t…