A new “millionaire’s tax” in Massachusetts was expected to generate $1 billion in revenue last year to help pay for public education, infrastructure, and early childcare programs, but projections were a bit off, according to a fresh state analysis.
The state Department of Revenue estimated late last week that the Fair Share Amendment, which requires people with incomes over $1 million, to pay a 4% annual surtax, will add $1.5 billion to state coffers this fiscal year, which ends in June—surpassing expectations.
Universal free school meals, much-needed improvements to an aging public transportation system, and tuition-free education for community college students are just some of the programs Massachusetts’ wealthiest residents have helped pay for after voters approved the law in 2022 amid growing calls across the United States to tax the richest households and corporations.
Have you not seen a paystub? It would not surprise me if you haven’t, but they clearly show what taxes are being deducted. We’re already in a corporat hell hole. You really want ticket master in charge of roadways? There goes your right to traveling freely.
Yeah taxes suck, but take off your rose tinted glasses and truly look at what that free market would become. Think about how selfish you’d want to be in making your money and multiply that by, well everyone in the US. Whole lot of middle men that need to make money. I’d rather keep the personal profit out of it.