What Does Massachusetts’ New Millionaire Tax Mean? They’re Likely Moving to New Hampshire 🤣

Massachusetts voters during the midterm election also voted on the state enacting a “millionaires tax” above and beyond its 5% flat rate income tax. Now that it has passed, anyone making over $1 million a year will have to pay an additional 4% on top of the normal state income tax. They claim this will only effect 0.6% of taxpayers but will bring in billions of dollars in revenue in the process for things like schools, roads, bridges, etc, even though they should already be funded by the current tax base. Which I am sure won’t be the end result when the people they are targeting with the new tax have already been looking for ways to protect their incomes from exactly this type of tax theft, including looking at moving out of state to do so.

In this video we take a look at the media make this new “millionaires tax” sound like a good thing while trying to play down its end result of it causing those targeted to look for alternatives other than paying it.

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