Current Events > Mass. tax on millionaires taking in more than expected.

(+) Yeah! (+)

The 4% tax on any income over one million dollars has generated a total of $1.8 billion dollars, and it's all being used to give kids free lunch at school.

https://www.businessinsider.com/massachusetts-millionaires-wealth-tax-wealthy-budget-high-income-earners-irs-2024-5

If that place is account-walls you, you can also review this, although it's an older article.

https://www.commondreams.org/news/tax-rich-massachusetts

Two things Republicans hatetaxing the wealthy AND using it to fund positive public welfare?

LOVE it!

It's probably lead lined lunchables too.

It's not all being used to feed kids.

It's also improving public transport and physical infrastructure, providing tuition free education, childcare and pre K. This is also despite them not even using all of that money yet: "after the tax was approved, the state initially estimated it would generate $1.4 to $1.7 billion in the first year. However, the state budgeted just $1 billion for the first year out of concerns that the impact of the new tax could be unreliable in the first year."

Nice. Take that conservatives.

So that's the answer to 'how will we pay for it'.

"But what if I become a millionaire? I'm obviously going to join that club someday and I don't want my money going to the taxman to give to liberals! Rich people say taxes are bad so taxes are bad!"

Or something else stupid like that.

Love this!

Now that's some trickle-down economics i can get behind

Southernfatman posted...

"But what if I become a millionaire? I'm obviously going to join that club someday and I don't want my money going to the taxman to give to liberals! Rich people say taxes are bad so taxes are bad!"

Or something else stupid like that.

"I'd rather be poor and have the government give me a few thousand dollars than be a millionaire and have the government take a few thousand dollars!"