this post was submitted on 05 Jan 2026
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Massachusetts implemented a 4% millionaire tax in 2022 and a small capital gains tax. The results?
It's proven that it works. We just need policies that benefit people and not just the rich.
Some of the sources:
https://www.axios.com/local/boston/2025/04/29/millionaires-massachusetts-income-surtax-increase
https://www.nbcboston.com/news/politics/data-shows-mass-is-home-to-more-millionaires-despite-new-surtax-according-to-advocates/3698430/
But then how will Musk et al ever become trillionaires if they are taxed accordingly? /s