‘Millionaires tax’ has already generated $1.8 billion this year for Massachusetts, blowing past projections
‘Millionaires tax’ has already generated $1.8 billion this year for Massachusetts, blowing past projections
The estimated haul is already $800 million more than what Governor Maura Healey and state lawmakers planned to spend from its revenue in fiscal year 2024.
You're viewing a single thread.
Wow haven't they heard of capital flight? All of the millionaires are gonna leave or something
Some will, but probably not that many. There are still plenty of millionaires in California in spite of the state’s tax law.
Yeah, people with all the money in the world are gonna give up their Malibu mansions with private beaches and sick views to move to North Dakota to avoid taxes 🙄
I guess super rich people in Boston might move to New Hampshire but it’s still a huge step down in amenities, proximity to workers (for the job creators), and social events (for the benefactors). And then your adult children are borrowing the helicopter to go everywhere.
They're also not suffering at all whatsoever right now and can easily afford it. Some even are open to just paying a tax if it means people feel less hungry for their faces.
And give up all those connections in the state.
Nah the vast majority of rich people will probably stay but they will whine about the necessary tax increases like always.
4% tax increase for income over $1M? Jeez, time to move out