
Report: State can boost opportunity, combat inequality by expanding taxes
A historically large share of the nation’s wealth is concentrated in the hands of a few, reducing opportunities for millions of Americans and reinforcing barriers that make it harder for people of color to make gains.
These inequities are made worse by most state tax systems – including New Mexico’s. By designing better tax policy, state lawmakers can help spread opportunity more widely and build more broadly shared prosperity.
Among the solutions on state policymakers’ lists should be expanding the taxation of assets of the very wealthy, since loopholes and other special benefits currently shield much...