People who think all the millionaires will flee- do you really think they’ll all give up living on Martha’s Vineyard over a 4% tax?
Also, suppose some do. 4 percent tax will still generate more revenue on the remains than you will get through their creative accountants regularly
Furthermore, the ones that leave are likely the tax dodging assholes that drain the system dry while providing nothing of value. If the demand for millionaire level housing goes down, that should lower costs for all.
Must be a pretty big vineyard
I don’t know about MA’s tax rules, but it could be based on number of days living in the state. Most wealthy people are not staying on Martha’s vineyard outside of the summer.
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This is the best summary I could come up with:
Massachusetts’ new 4% millionaire’s tax is giving a major boost to education and transportation initiatives in the state.
Maura Healey last week signed a $55.98 billion state budget for the 2024 fiscal year to spend the money.
The state’s budget “makes significant investments in schools, child care, clean energy, the environment, and access to mental and physical health care,” Healey previously said in a statement.
The signing of the budget made Massachusetts the eighth state to adopt a plan for free school lunches since the expiration of federal free school lunches that had emerged during the COVID-19 pandemic.
Here’s a complete breakdown of how the $1 billion revenue from the millionaire’s tax will be spent, according to the governor’s office:
A spokeswoman for Healey’s office told Insider: “This establishes a blueprint for how this revenue will be tracked and spent in future years on priorities in education and transportation, as directed by the voters.”
I’m a bot and I’m open source!
RepubliKKKlan will find a way around it.
Inflicting suffering on the young and helpless is a RepubliKKKlan Hallmark.
They’ll find ways for their “income” to be something else. But it’s a start.
I guess it’s also a good list of how to cut spending to undo those taxes
It’s certainly a good list if you’re the sort of psychopath who would.
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