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News@lemmy.world · 10 months ago

$1.5 billion in estimated revenue: A look at the Massachusetts 'millionaire's tax' first year taxing the rich

cross-posted to:
brainworms

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$1.5 billion in estimated revenue: A look at the Massachusetts 'millionaire's tax' first year taxing the rich

return2ozma@lemmy.world to

News@lemmy.world · 10 months ago

cross-posted to:
brainworms

$1.5 billion in estimated revenue: A look at the Mass. 'millionaire's tax' first year

Advocates promised the new tax would bring in over $1 billion a year in new revenue. And they quickly saw their predictions surpassed: the state Department of Revenue estimates it will generate over $1.5 billion this fiscal year.

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Zaktor@sopuli.xyz
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10 months ago
Neither of those numbers seems accurate. It’s not the “average” rate payer who is supposedly being chased off.

https://en.wikipedia.org/wiki/Tax_rates_in_Europe

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