To the editor,
Speaker of the House Nicholas Mattiello in his interview published on December 19 has again demonstrated his lack of understanding and knowledge of how the economy works in the 21st Century. He believes that reducing regulations and taxes helps speed up economic growth while the data on how taxes and regulations affect the economy clearly demonstrates that raising taxes on the rich does not slow down the economy, and often helps the economy due to reduced inequality, while strong regulatory climates are correlated with better economic performance.
If the speaker really wanted a stronger RI economy he would raise taxes on the rich, legislate a carbon tax, improve mass transit, fund housing for low income Rhode Islanders, and put RI on a very clear and rapid path to zero carbon emissions. He would also acknowledge that subsidies for millionaires for real estate harms the economy.