This is an okay start, but it needs to be nationwide to be effective. It’s too easy for the ultra-wealthy to weasel out of one state without any real change in lifestyle.
We need a national wealth tax to take back all the wealth that had been stolen from the middle class for the last 4 decades.
Set the tax extremely high, then have the IRS offer a 10% finders fee to anyone who uncovers any scheme by which the wealthy are trying to illegally hide their wealth
These psychopaths have watched the world starve and struggle while sitting on mountains of money so large that they are practically unfathomable.
They are. It’s not a direct cash transfer but instead a portion of the budget that everyone pays into. Additionally, people are required to pay taxes on their income earned within a state while they live there. Moving won’t impact their taxes for that year.
There is a massive outflow of wealth from Massachusetts. It’s difficult to determine how that translates to income as there’s a lot of industry linked to education in the commonwealth. Anyone who claims with certainty one way or another right now is talking ignorance until the state publishes actual revenues and by source and we can assess the trend over time.
I wouldn’t claim a management of funds on them. That would be intellectually dishonest. I also don’t think they were recommending this move. It was a populous initiative. That being said, we’ll see if the trends materialize to make it worth the change.
Right, because they dont… Flat tax could have been a thing, and people voted against it, because they wanted all the same “loopholes” for themselves when the realized what “fair” tax actually looks like.
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