cross-posted from: https://lemmy.world/post/3160934
Students in Massachusetts will get free lunch and breakfast at school thanks to a new 4% tax put on people who earn more than $1 million.
Iâd love to see taxes like these go towards universal child care.
We need it. Now.
The rich need to pay their taxes or they will get spoiled.
How did they get that money after all the millionaires fled the state like they always say they will?
They are. Itâs 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 wonât impact their taxes for that year.
There is a massive outflow of wealth from Massachusetts. Itâs difficult to determine how that translates to income as thereâs 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.
That study sounds pretty suspect from the outside. The Herald appears to be taking out direct quotes that have some very heavy political bias.
We ultimately wonât know until next yearâs budget is reported. We only can really view 2021 in detail right now. This change goes into effect this year so weâll see the change in revenue likely detailed in late 2024. Then we can look at a trend analysis in 2025 to determine if higher income household are moving out. Anyone who makes any claims outside of this is not basing it on real revenue data.
And at some point theyre going to run of of millionaires to blame their mismanagement of funds on.
This is an okay start, but it needs to be nationwide to be effective. Itâs 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.
Yes! ââ¤ď¸
