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Massachusetts passed a 4% millionaire's tax last year. Now every public school student is going to get free lunch
(www.businessinsider.com)
this post was submitted on 14 Aug 2023
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Boston, MA
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That study sounds pretty suspect from the outside. The Herald appears to be taking out direct quotes that have some very heavy political bias.
We ultimately won't know until next year's budget is reported. We only can really view 2021 in detail right now. This change goes into effect this year so we'll see the change in revenue likely detailed in late 2024. Then we can look at a trend analysis in 2025 to determine if higher income household are moving out. Anyone who makes any claims outside of this is not basing it on real revenue data.
In five more years everyone will be moving here trying to get away from climate disasters in other parts of the country anyway so I'm not particularly worried about it. We were also just rated the best state in the country to live and raise a family too so 🤷♂️
Given that Boston already has flooding as is due to increased rainfall and the degrading nature of the dams on the Charles, I would prefer we try to mitigate things before we pretend like we will be fine for us.