$1.5 billion in estimated revenue: A look at the Mass. 'millionaire's tax' first year
www.wbur.org
Advocates promised the new tax would bring in over $1 billion a year in new revenue. And they quickly saw their predictions surpassed: the state Department of Revenue estimates it will generate over $1.5 billion this fiscal year.
  • Frostbeard@lemmy.world
    22·
    10 months ago

    It’s how you tax. Some Norwegians left because not the income but the fortune was taxed. And by fortune also the value of stocks and such. The issue for some was they needed to sell off stocks to pay the tax. Also Norway established a new tax that tax the fortune if you leave. I am ALL for taxing the wealthy, but if the money has already been taxed…

    • IamSparticles@lemmy.zipEnglish
      1·
      10 months ago

      I mean, if the point is to stop people from stockpiling wealth and increasing wealth disparity, then it sounds pretty effective.