It’s time for Hawaiʻi to tax the rich

Tax the rich.

As the economic downturn continues, that singular phrase has become more than a trendy progressive rallying cry. It’s a statement about the restructuring of our social and economic priorities, which have been upended by the pandemic.

Today, our state is facing an estimated $1.4 billion budget shortfall.

Congress’ recently passed $900 billion relief package will provide a short-term boost to our state’s finances but not at a level needed to stem future fiscal discomfort.

The Hawaiʻi State Department of Education (DOE), for example, is confronting a $400 million budget crunch, when reductions from potential furloughs, the DOE’s austere biennium spending proposal and $95 million in restrictions already incurred by the department are combined.

That’s not just a recession. That’s a crisis for our keiki.