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Mass. passed a high-income surtax a few years ago, with the result that we raied a lot of funds for schools & infrastructure, and we atill have plenty of rich p
by Finnucane 9mo ago
Mass. passed a high-income surtax a few years ago, with the result that we raied a lot of funds for schools & infrastructure, and we atill have plenty of rich people. Wealthy people hate paying taxes, but after paying, they're still pretty wealthy. And, some of them like living in a state with decent schools, health care, etc.
https://www.peoplespolicyproject.org/2025/11/17/do-millionaire-surtaxes-lead-to-millionaire-exodus/ https://www.peoplespolicyproject.org/2025/11/17/do-millionai...
- mercutio2 9mo agoWealth taxes are very, very different from higher income taxes. People are mad about buy-borrow-die, so they’re proposing extraordinary new measures. Personally, I’d just make capital gains taxes apply at the “borrow” stage to actually fix the problem. That would have a host of compliance issues but they’d be localized in the finance industry which already has an army of people figuring out compliance.
- Finnucane 9mo agoBut they made exactly the same arguments against it, and it was bullshit.