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John Scalzi @scalzi.com

  1. The extra marginal tax rate will affect millionaires' daily lives almost not at all, which is why in reality none of them would leave the state.

  2. When you have this much money, your accountant/financial folks are already making you as tax efficient as possible.

www.wbur.org/news/2025/04...

Despite previous concerns, Massachusetts' "millionaire's tax" hasn't seemed to deter high-earners from continuing to live here, according to a new study from the Institute for Policy Studies.

Not fleeing: New report shows more wealthy residents in Mass., 2 years into 'millionaire's tax'

Despite previous concerns, Massachusetts' "millionaire's tax" hasn't seemed to deter high-earners from continuing to live here, according to a new study from the Institute for Policy Studies.
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Hap @hapchem.bsky.social

Maybe wealthy people live in those places because the increased cost of living and taxation is more than compensated by the availability of talent and the opportunity cost of being around lots of people (and maybe lots of smart people).

Replies

  1. CynicalCitizen @edpaulisyuark94.bsky.social

    Schools, employment opportunity, property value, local services, open space community feel. Those are the priorities for me. There is some give and take but the wealthy typically flock to these high tax areas as the cost benefit is readily apparent. Off hand, I don't know what my local taxes are.

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  2. sitkaworldsfair.bsky.social profile picture

    Justin Berkowitz @sitkaworldsfair.bsky.social

    Yes and not just that. Despite having a crummy legislature (single-party state), Massachusetts does a decent job as a state: excellent public schools, excellent medical care, relatively low crime.

    And Cambridge is a Goliath for biotech.

    So if you’re really loaded, lots that appeals.

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