BOSTON — A proposed tax on the state’s top earners would drive some wealthy residents out of state, while others will find ways to avoid paying the new levy, which

– News from elsewhere covered by Quincy Quarry News with commentary added

Where there is a will, there is a way …
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A Tufts review finds that the wealthy will seek to avoid the impact of a proposed Massachusetts millionaires tax surcharge.

A report by Tufts University’s Center for State Policy Analysis projects that the state would likely only collect about $1.3 billion in 2023 instead of the $2 billion projected by the proponents of a state ballot question that will be decided on by voters later this year.

In short, just as the premise that a lower tax take will boost total tax revenue is not empirically clear, it is also not clear that boosting tax will yield the revenue touted by those seeking to raise taxes, especially taxes endeavored to impose upon others.

Follow the money. ALWAYS follow the money.
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In this case, Tufts researchers expect that those impacted by the proposed tax surcharge will engage in legal tax avoidance strategies, move, or otherwise duck getting whacked.

“We don’t pay taxes; only the little people pay taxes” – Lenora Helmsley

Even so, as well as one can only imagine, this ballot question has been seeing positive polling with those who with less than great means and would thus like seeing those with big bucks get whacked.

Don’t tax you …
An AZ Quote

Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand.  F. Scott Fitzgerald

Source: Report: Wealthy will seek to avoid millionaires tax

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