A new “millionaire’s tax” in Massachusetts was expected to generate $1 billion in revenue last year to help pay for public education, infrastructure, and early childcare programs, but projections were a bit off, according to a fresh state analysis.
The state Department of Revenue estimated late last week that the Fair Share Amendment, which requires people with incomes over $1 million, to pay a 4% annual surtax, will add $1.5 billion to state coffers this fiscal year, which ends in June—surpassing expectations.
Universal free school meals, much-needed improvements to an aging public transportation system, and tuition-free education for community college students are just some of the programs Massachusetts’ wealthiest residents have helped pay for after voters approved the law in 2022 amid growing calls across the United States to tax the richest households and corporations.
I think I’m confused. I was under the impression that the US government required taxes on any money earned anywhere on the planet. I’m pretty sure you required to pay taxes on whatever money you earn working part-time from your boat or whatever. Is that not the case?
You can work for cash and pay cash. If you really think taxation is theft, why would you work for someone who’s a slave to The Man and insisting on payroll taxes?
There are plenty of libertarian employers who also think taxation is theft and would rather not report your earnings. Hell, there are plenty of employers in the US who don’t report earnings because they mostly use undocumented workers.
e: it’s called ‘under the table’
I think you miss my point. I don’t think it’s theft. I grant libertarians that point then say “so what”. There’s never an answer.
Oh, in that case, yeah. I’d also love to know that. Sorry, I was having two conversations in this thread and may have mixed up the overall point.
If you ever get an answer, please let me know.