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@lalonsander@chaos.social

Post #1379452

2025-10-22 04:28 UTC

An additional tax on millionaires in Massachusetts has generated $3 billion more than expected without forcing significant high-profile departures from the state. The money is being used to fund bridge repairs, literacy programs and public transport. https://www.bloomberg.com/news/articles/2025-10-21/millionaire-tax-that-inspired-mamdani-fuels-5-7-billion-haul-in-massachusetts?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc2MTA2MTU2OSwiZXhwIjoxNzYxNjY2MzY5LCJhcnRpY2xlSWQiOiJUNDhKTFVHT1lNVEQwMCIsImJjb25uZWN0SWQiOiJEQTlFODU5Q0VDRUE0MkZFQjY4MEIwRjU4NjVERDU4QiJ9.rfT9_EtHho8RjecXjGrhX7WYDnQjqcU-tJ7zylXZWeY

Replies (8)

  • @proscience@toot.community 2025-10-22 10:54

    @lalonsander@chaos.social In case Mamdani's lead in the polls materializes, I'm curious how many of those NYC millionaires and billionaires will actually leave NYC as they claim they will now ...

    Open ##3193154

  • @j_feral@digipres.club 2025-10-22 13:08

    @lalonsander@chaos.social I love seeing these articles each year after canvassing and phonebanking to get this passed! One annoyance is that journalists never emphasize the tax is for people who make more than $1 mil in a *single year* , not just that they are "millionaires." Plenty of people hold more than $1 mil in savings, make a high 6 figure salary, and are not taxed. You have to be seriously loaded to *bring in* over $1 mil a year and that's who this tax bracket is affecting.

    Open ##3193155

  • @econads@mendeddrum.org 2025-10-22 14:29

    @lalonsander@chaos.social you don't say?

    Open ##3193157

  • @peteriskrisjanis@toot.lv 2025-10-22 17:51

    @lalonsander@chaos.social we used to be society....wait, this is what we used to be. Huh. Almost like tax breaks for the rich was intentionally pushed policy which slowly destroyed us.

    Open ##3193158

  • @dnkboston@apobangpo.space 2025-10-22 18:05

    @lalonsander@chaos.social ...in spite of the fact that the governor offset those extra taxes last year with different breaks for the wealthy!

    Open ##3193159

  • @Richboy50@woof.group 2025-10-22 20:55

    @lalonsander@chaos.social I'm thinking that I need to move to Massachusetts.

    Open ##3193165

  • @trinitui@mstdn.games 2025-10-23 12:15

    @lalonsander@chaos.social There were endless articles in the papers here about how this tax would "ruin MA" because Millionaires would leave the state. What a shock that these people wouldn't depart for greener (redder?) pastures.

    Open ##3193166

  • @dacig@mastodon.social 2025-10-23 14:08

    @lalonsander@chaos.social Given that billionaires siphon so much public funds, tax breaks... Kicking them off should be seen as a plus. Instantly improving public finances.

    Open ##3193167