Yeah as a CPA and an attorney, I certainly understand marginal tax rates. Marginal rates are on the last dollar of income. So an 80% increase. Effective rates are blended on overall income.
While anecdotal this is why I say people are leaving mass (or not coming or structuring timing of gains around it) and it’s all because of the 80% increase. Remember it goes from 9% to 0% when we go. That pays for the second house.
I’m a big law partner who practices in biotech. Trust me we can (and do) move to and work from Florida! 5%->9% is an 80% increase in tax rate.
Many business owners (tech and biotech) folks will move before selling or exercising stock options and generating big money. So Mass will never...
Lots of these rules are written just like zoning codes - to allow selective enforcement, pretextual stops and raise revenue. For example, speed limits are not necessarily tied to a road’s engineering design limits.
New taxes on candy, local option taxes on hotels, taxes on synthetic nicotine products, and taxes on drug manufacturers. In addition to red light, school bus and speed camera which are more about revenue raises.
Remember read end crashes increase after red light cameras are installed.
And here is the proposal for speed cameras statewide.
https://www.bostonglobe.com/2025/01/23/metro/governor-maura-healey-speed-cameras-legislature-ticket/
Slippery slope just got even slipperier. Along with other tax raising proposals.
Fallacy?
Chicago is using it to raise funds (not enforce laws) https://www.illinoispolicy.org/chicago-drivers-face-lower-speed-limit-more-cameras-after-28m-fine-drop/
Washington D.C. and Chicago, which have come to rely on cameras to plug holes in the general revenue stream.
He even argues...