cross-posted from: https://lemmy.world/post/3160934
Students in Massachusetts will get free lunch and breakfast at school thanks to a new 4% tax put on people who earn more than $1 million.
cross-posted from: https://lemmy.world/post/3160934
Students in Massachusetts will get free lunch and breakfast at school thanks to a new 4% tax put on people who earn more than $1 million.
How did they get that money after all the millionaires fled the state like they always say they will?
They are. It’s not a direct cash transfer but instead a portion of the budget that everyone pays into. Additionally, people are required to pay taxes on their income earned within a state while they live there. Moving won’t impact their taxes for that year.
There is a massive outflow of wealth from Massachusetts. It’s difficult to determine how that translates to income as there’s a lot of industry linked to education in the commonwealth. Anyone who claims with certainty one way or another right now is talking ignorance until the state publishes actual revenues and by source and we can assess the trend over time.
https://www.bostonherald.com/2023/05/16/wealthy-residents-fleeing-massachusetts-and-have-been-for-years-study-shows/
And at some point theyre going to run of of millionaires to blame their mismanagement of funds on.