Hawaiʻi joins 7 other states in launching popular campaign to better tax wealth
Update: the original version of this press release said Hawaiʻi was joining with 6 other states in this campaign. However, since then, an eighth state has joined the campaign.
HONOLULU, Hawaiʻi — Across the state, people from all walks of life recognize that parts of our tax system are allowing the very wealthy to avoid paying a fair share of taxes—and that’s preventing us from building the future our keiki deserve.
Just-released polling data of 500 registered Hawaiʻi voters shows that 65% say individuals with more than $1 billion in net worth are not paying what they owe in taxes, and 63% say the same is true for individuals with at least $50 million in net worth.
Hawaiʻi voters overwhelmingly support taxing the rich in order to fund priority investments in our collective future as well, the top priorities being:
Affordable housing (72%);
K–12 public education (63%); and
Public health care (58%)
In particular, voters resonated with the message: “The ultra-rich should pay what they owe in taxes and not expect working families to continue to subsidize more than their share of taxes that support our roads, schools, and infrastructure,” with 87% agreeing.
“This polling data shows broad-based support among Hawaiʻi voters for the principle of tax fairness: that the rich should pay a fair share back toward sustaining the economy on which they built their wealth, and help leave things better for the next generation,” said Will White, Director of the Hawaiʻi Budget & Policy Center.
“The affordable housing and homelessness crisis; providing the best education we can for our keiki; preparing our infrastructure for the impacts of climate change—these challenges require a commitment of public funding to adequately address, and the equitable way to secure that revenue is to better tax extreme wealth,” said State Representative Jeanné Kapela (HD5).
“The pandemic recession caused a significant increase in poverty at the exact same time that the rich saw huge gains in their wealth,” said State Representative Amy Perruso (HD46). “It’s unfair that very wealthy landowners living on the continent continue to use tax loopholes to amass even more wealth while fueling a speculation frenzy that makes housing unaffordable for local families.”
“It's about kuleana—privilege and responsibility—for the wealthy to pay what they owe in support of our keiki,” said Deborah Zysman, Executive Director of Hawaiʻi Children’s Action Network Speaks!
Voters in states across the country agree. Hawaiʻi is joining seven other states with Democratic majorities to launch a coordinated effort to establish these tax fairness principles in statute and lay the groundwork for a secure collective future.
The campaign will include a bill to raise the tax rate on long-term capital gains, and a bill to close a tax loophole that gives wealthy nonresidents a tax break when they use Hawaiʻi real estate to build and pass on their wealth.
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The Hawai‘i Tax Fairness Coalition is a collection of organizations dedicated to ensuring a prosperous future for our communities through smart and fair tax policy.
