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Massachusetts passed a 4% millionaire's tax last year. Now every public school student is going to get free lunch (www.businessinsider.com)
submitted 3 years ago* by to c/news@lemmy.world
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Students in Massachusetts will get free lunch and breakfast at school thanks to a new 4% tax put on people who earn more than $1 million.

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[–] 190 points 3 years ago (2 children)

We need different terms for people who HAVE a million dollars and people who MAKE a million per year. Lots of people will read this millionaire's tax and think it will apply to them when they are nearing retirement since they finally have a million dollars after saving all their life.

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  • [–] 70 points 3 years ago (1 child)

    That's what the campaign to quash the bill did. That, and tried to convince people that they might have a single multi-million-dollar transaction in their life (like selling a large successful business) and have to pay an extra 4% on it.

    Always a push to get the "temporarily embarassed millionaire" to support the reach. "Yeah, yanno. My little lawmowing operation that makes me $20,000 coild sell for over a million and then I'm fucked"

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  • [–] 2 points 3 years ago*

    We need different terms for people who HAVE a million dollars and people who MAKE a million per year.

    We have them. The first is referred to as "Wealth" or "Worth" and the other is referred to as "Income". Therefore what Mass instituted is called an Income Tax.

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