modernhomeowner t1_itzd18t wrote on October 27, 2022 at 12:44 PM

Reply to comment by socialist_frzn_milk in PSA: Vet your Sources [Question 1] by RonBurgundy35

You didn't answer the question. "How's that boot taste" is a cop out when you don't have any real response. If say an Abigail Johnson decides to just retire and change her residency to another state, something that happens a lot when a parent passes in businesses like hers, her dad passed this year, and if they live in a high-tax state - I wouldn't call MA a high-tax state today, but I would if this passes. I'd guess she pays $37M to Massachusetts in taxes each year, plus or minus $10M. If after these postcards go out making her look evil and voters have gone alone with it and decide to increase her taxes by 80%, if she decides to leave, she no longer pays her $37M to Massachusetts, are you going to be okay with about 300 teachers less in the classroom due to that cut? Are you okay when Maura Healy has to propose raising the sales tax rate to compensate?

Whether you'd like your head in the sand or not, that is exactly what happens in other states when they raise taxes, the wealthy leave, leaving less services and higher taxes for those who remain. Higher income tax rates do not always mean more revenue, especially when they are forced upon those who are most mobile.

socialist_frzn_milk t1_itzelsy wrote on October 27, 2022 at 12:57 PM

I reiterate: how’s that boot taste? “They’ll leave!” is an empty threat that greedy billionaires use when they want to stop a state from making them pay their fair share in taxes.

modernhomeowner t1_itzfcqr wrote on October 27, 2022 at 1:03 PM

What is fair? They pay 5% just like I do. We drive on the same roads. They pay a lot more than I do. That is fair.

socialist_frzn_milk t1_itzfy2t wrote on October 27, 2022 at 1:07 PM

What is fair, you ask? Well, it would start with stopping billionaires from doing this.

https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files

modernhomeowner t1_itzglo1 wrote on October 27, 2022 at 1:13 PM

Those are all strategies to reduce taxable income, which is a different discussion than rate of tax. Certainly a valid discussion, but unrelated. If I don't have taxable income, the tax rate can be 100%, it doesn't matter because I don't need to pay. But you do bring a good point, if they are willing to pay accountants hundreds of thousands to manage those tax strategies, the easiest strategy to avoid this new MA tax is very cheap, to just leave, no accountant necessary.

plastroncafe t1_iu0bsl4 wrote on October 27, 2022 at 4:44 PM

Businesses are beholden to their stock holders, because of their investment in the company, yes?

So too should citizens be beholden to their fellow citizens because of their investment in the spaces we share.
No millionaire made their money alone. They used public infrastructure. And in the making of their business, they used those resources more.

More wear and tear.

modernhomeowner t1_iu0czfz wrote on October 27, 2022 at 4:51 PM

That's not the same comparison, 90% of shareholders can't vote that the other 10% of shareholders have to invest more in the business.

They didn't make their money alone, they are paying a lot more in taxes than I am. I'm not opposed to a progressive tax rate, but calling it "fair share" just makes me cringe, that is not fair to decide that someone else should pay a higher percentage than you do.

We all benefit from roads, you can't say a business benefits more or less. Walmart gets the benefit that customers can drive there to pick up apples and shampoo, but I as a citizen also need those roads to buy apples and shampoo otherwise my life would be a lot worse off. We equally benefit from those roads. I pay 5% on my little tiny income, someone with higher incomes, their 5% is a lot more toward the roads. I can agree maybe they should pay 6 or 7, but the one thing that is not is the definition of a "fair share".