Massachusetts lost $4B of income after millionaire tax

Shocking

All this will be is a transfer of stupid voting now in Red areas. In effect, they are going to turn some red states purple. Keep their asses in these cesspool areas so they don't wreck it for the rest of us.

These blue states are going to figure out a way to hold captive their citizens. Or at least their money.

But atleast that reduces their envy

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Millionaire tax

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Libs fall into that trap every single time without fail.

Never once has it worked.

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Washington will be a closely watched experiment in the debate over the impact of higher state taxes on wealth migration.

Two of the state’s most celebrated entrepreneurs — Jeff Bezos of Amazon and Howard Schultz of Starbucks — have already left the state for Florida, which has no income tax. Bezos announced his move to Miami in 2023, after the state’s new capital gains of 7% tax took effect. He sold more than $9 billion worth of Amazon stock in 2024, effectively saving over $600 million in capital gains taxes that he would have had to pay to Washington state.

Schultz recently announced that he had moved from Seattle after 44 years. He said his family office will also move to Miami but that his foundation would continue to operate in Seattle.

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And Washington state is doing the same thing with predictable results CNBC.

I guess all those British actors and rockers fleeing Great Britain in the 60s and 70s for tax reasons wasn't example enough.

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These blue states are going to figure out a way to hold captive their citizens. Or at least their money.

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They keep trying but courts have surprisingly been pretty consistent in telling them to frick off.

State income sourcing rules have been pretty well decided.

Behind a paywall so no idea what the actual story says. How does it jive with this article? Millionaire tax floods state coffers