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Author Topic: A wealth tax, a SCOTUS case, and a likely Mass. exodus  (Read 457 times)

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Offline DefiantMassRINO

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A wealth tax, a SCOTUS case, and a likely Mass. exodus
« on: March 12, 2021, 01:19:52 am »
Meanwhile in Massachusetts, it's time to bring back the "Make it in Massachusetts, Spend it in New Hampshire" bumper stickers:

https://www.bostonglobe.com/2021/03/10/opinion/wealth-tax-scotus-case-likely-mass-exodus/

If you don’t believe the $200 million annual loss to New Hampshire is a threat, consider the wealth drain to Florida.

By Jim Stergios and Christopher AndersonUpdated March 10, 2021, 12:07 p.m.

A case New Hampshire filed with the US Supreme Court last October against the Commonwealth of Massachusetts could have a huge impact on state finances nationwide. It also raises the stakes as the Massachusetts Legislature considers amending the state constitution to eliminate the state’s prohibition against a graduated income tax and to hike taxes on high earners. ...

... With billions of dollars already migrating to New Hampshire under the Commonwealth’s current 5 percent income tax, imagine the wealth drain that would ensue were Massachusetts to adopt a top rate of 9 percent. A Supreme Court ruling that high earners working for Massachusetts companies can avoid Bay State income taxes simply by working remotely from New Hampshire would be akin to the Commonwealth offering a relocation bonus to persuade wealthy residents — and the tax revenue they contribute — to leave.

Will the wealthy leave? If the departure of more than $200 million annually to New Hampshire isn’t enough to convince you that people and businesses weigh tax and business climate issues when deciding where to locate, consider the wealth drain to Florida. Over the same 1993-2018 period, the exodus of Massachusetts wealth to Florida, another state with no income tax, was nearly $10 billion, or $400 million a year. ...
« Last Edit: March 12, 2021, 01:32:54 am by DefiantMassRINO »
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Offline PeteS in CA

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Re: A wealth tax, a SCOTUS case, and a likely Mass. exodus
« Reply #1 on: March 12, 2021, 03:19:31 pm »
Until tax-and-spend profligacy has consequences, the profligacy will continue. And when the Feds subsidize it, the profligacy will multiply.
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If, as anti-Covid-vaxxers claim, https://www.poynter.org/fact-checking/2021/robert-f-kennedy-jr-said-the-covid-19-vaccine-is-the-deadliest-vaccine-ever-made-thats-not-true/ , https://gospelnewsnetwork.org/2021/11/23/covid-shots-are-the-deadliest-vaccines-in-medical-history/ , The Vaccine is deadly, where in the US have Pfizer and Moderna hidden the millions of bodies of those who died of "vaccine injury"? Is reality a Big Pharma Shill?

Millions now living should have died. Anti-Covid-Vaxxer ghouls hardest hit.

Offline roamer_1

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Re: A wealth tax, a SCOTUS case, and a likely Mass. exodus
« Reply #2 on: March 12, 2021, 03:54:45 pm »
Anyone who elects to continue to live in Massivetwosh*ts deserves what they get.

For similar reasons, my family left Chicago, all the way back in the 70s and came to live wild and free in NW Montana... Something I will owe to my father, with every gratitude, forever.

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Offline Sled Dog

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Re: A wealth tax, a SCOTUS case, and a likely Mass. exodus
« Reply #3 on: March 13, 2021, 07:21:21 pm »
Oh, it's pretty obvious that what has already happened will happen again.

The Internet made it possible to avoid crazy high state sales taxes, so the kleptocratic states like CA and MA and NY and the rest demanded that Congress pass a bill requiring sellers in other states to remit taxes to the states whose residents were buying from.   

This will be applied to tele-workers and they will discover they're paying Taxechusetts income tax rates if their employer's home office is in MA.   Plus, of course, they'll still have to pay whatever tax the state they live in pays, too.  That won't go away.
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Offline roamer_1

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Re: A wealth tax, a SCOTUS case, and a likely Mass. exodus
« Reply #4 on: March 13, 2021, 08:21:05 pm »
Quote from: Sled Dog on March 13, 2021, 07:21:21 pm
Oh, it's pretty obvious that what has already happened will happen again.

The Internet made it possible to avoid crazy high state sales taxes, so the kleptocratic states like CA and MA and NY and the rest demanded that Congress pass a bill requiring sellers in other states to remit taxes to the states whose residents were buying from.   

This will be applied to tele-workers and they will discover they're paying Taxechusetts income tax rates if their employer's home office is in MA.   Plus, of course, they'll still have to pay whatever tax the state they live in pays, too.  That won't go away.

Unintended consequences... The end result of that scenario has businesses in Massivetwosh*ts moving operations to Kentucky in order to attract employees
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