Massachusetts passed a 4% millionaire's tax last year. Now every public school student is going to get free lunch
Massachusetts passed a 4% millionaire's tax last year. Now every public school student is going to get free lunch
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.
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Not to discourage continued bleeding of the rich, but I wonder if this is the right way to go about it. Theoretically, we should already have a lot of laws on the books that slam millionaires for their advantageous position. But, their budget also allows for accountants that shift and hide that money, sometimes on a questionable basis of legality.
Could one prong on this assault be to increase the IRS' operating budget, so that they're able to track down and stop more of these tax haven shenanigans?
Don't let perfect be the enemy of good enough. This is working, let it work. If they start avoiding it the rules can be changed.
Exactly. When I supported this, there was that wince of "this won't get the people it really needs to hit"... but it does enough.
And tbh, I know some wealthy fucking people who legitimately don't cross the line. $1M/yr is a lot of bloody money. That means if I found a way to "only" make $900,000/yr, I'm immune to this tax.
Also, anyone hiring for $900,000/yr?
Right? I hear this all the time about inheritance tax. Im more than willing to pay inheritance tax, meaning Iâm getting like $3.5 Million to start.
It's not bleeding anyone. My father was an airline flag carrier captain in Europe. He made what he called "an obscene paycheck". When taxes came around, he would say: look at what they are taking from me, I must be making a ton!
And most likely he was paying more then than someone earning the same amount does today. We're not even close to scrapping our way back out of society being profoundly imbalanced towards the wealthy.