mostlybree.kitrocha.com profile picture

Bree (Deadline Era) @mostlybree.kitrocha.com

My theory is that if we taxed most of these people without telling them and the people they pay to manage their money didn't tell them, they'd never notice.

And if you'd never notice you should be taxed even more.

saint-timonious.bsky.social profile picture

@saint-timonious.bsky.social

MA put in a 4% millionaires tax 2 years ago, & the GOP said we'd miss revenue targets & millionaires would flee. MA collected TWICE the projected revenues, & the number of millionaires went UP 40%. 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.

Replies

  2. chiggyvr.bsky.social profile picture

    David (feat. CJ) @chiggyvr.bsky.social

    I worked in the payments section for an organisation that had several solicitors on staff. Not "ultra rich" by the actual definition, but very well paid. One time, one of the solicitors rang into the office because she had just noticed she hadn't been paid in eighteen months.

    1
  3. ajgenz.bsky.social profile picture

    Andy Genz @ajgenz.bsky.social

    I suspect that a lot of the people they pay to manage their money are keenly aware of how insensitive they are to invisible costs.

    0
  5. wood-mousse.bsky.social profile picture

    moose @wood-mousse.bsky.social

    the system of payroll tax with later refunds is basically this. you can fuss with the margins on the tax and especially on the refund later, which is so separated in time that barely anyone will be able to tell

    0
  6. atrpdx.bsky.social profile picture

    Andrew Reilly @atrpdx.bsky.social

    This. The reality is that there's a point beyond which an extra dollar in their pocket actually means nothing; a point at which the most opulent lifestyle doesn't require more than what they already have. The tax on a dollar ought to be inversely proportional to the ease with which it's "earned."

    0
  7. jesse.lansner.com profile picture

    Jesse Lansner @jesse.lansner.com

    I'm far from a millionaire, and our income & deductions are pretty straight-forward, and I still have no idea what % of our income we paid in taxes this year of whether that was higher or lower than the prior year.

    0
  9. notmylinkedin.bsky.social profile picture

    FICO in tinder bio @notmylinkedin.bsky.social

    This is also my theory about "soft on crime" rhetoric. If you make justice reforms that are, generally, favorable for defendants or offenders, that itself is not generative of more crime. Right wing psychos who go on podcasts and say "crime is legal" however, probably are.

    0
  10. ddalglish.com profile picture

    David Dalglish @ddalglish.com

    I cannot describe the rage I feel when the guy trying to inspire pity for the billionaires refers to the rich giving a horrific "15%" of their yearly income in taxes when as a self-employed author I was often paying fucking 30%.

    3
  11. inepterudition.bsky.social profile picture

    Mark @inepterudition.bsky.social

    There's a bizarre thing to wealth taxes where everyone regurgitates the same arguments about capital flight despite no evidence to support their argument

    1
  13. pierrette1789.bsky.social profile picture

    robespierrette @pierrette1789.bsky.social

    Long ago, I got a (huge for me) windfall.

    At the end of the year, I saw my Fed tax bill (north of $200K), and got legitimately mad that it hadn’t been more.

    If another $50K had been taken out, it would have been a small budget difference to me, but how many school lunches is that? ☹️

    1
  14. chelseanh.bsky.social profile picture

    ChelseaNH @chelseanh.bsky.social

    I think some rich people are essentially on auto-pilot, but some are dragons like Smaug, obsessively counting and monitoring their hoards. They will notice and they will set fire to the world to punish you.

    0
  16. edburmila.bsky.social profile picture

    Ed Burmila @edburmila.bsky.social

    It's a good theory, because their belief that their taxes are extremely high is independent of their actual tax rate. Neither adding nor subtracting a couple percent either way would change their attitude.

    0