From Massachusetts, Some Tax-the-Rich Inspiration
The super rich, worldwide, are regularly cowing their critics. Bay Staters have pounded back.
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The super rich, worldwide, are regularly cowing their critics. Bay Staters have pounded back.
Massachusetts raised taxes on millionaires and brought in a massive surplus, something Joe Biden should campaign on vs. Donald Trump's tax cuts for the rich.
State officials announced Monday that the surtax on high earners had generated more than $1.8 billion in revenue this fiscal year
The state has so far collected $1.8 billion from the 4% income surtax, $800M than expected, according to new state data.
The estimated haul is already $800 million more than what Governor Maura Healey and state lawmakers planned to spend from its revenue in fiscal year 2024.