We hate it when this happens, but if you work with enough data, it happens sooner or later. We recently learned that a chart included in a past blog post and our analysis of the Commission on the 21st Century Economy’s (COTCE) proposals included an erroneous data reference. We’ve revised our August 12 blog post and our analysis of the COTCE proposals.
We pride ourselves on staying true to the facts and correcting our mistakes when we find them, because, to a steal a line from our colleagues at the Oregon Center for Public Policy, “facts matter.”
The most important points made in our analysis still stand: the COTCE proposals would provide the largest personal income tax breaks to those whose incomes have posted the strongest growth in recent years and would reduce, in the case of the personal income tax, and eliminate, in the case of the corporate income tax, the state’s two taxes that have posted the strongest growth in recent years. And, the Commission’s own estimates suggest that their proposals would result in a tax system that grows more slowly over time than the state’s existing tax system.