No mention of how it turned out in Massachusetts.
this post was submitted on 23 Nov 2025
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Yep. Millionaires threaten to move away if they're taxed, but they won't. The convenience of having their high value properties in highly sought after areas, where all the services they use are present, is too enticing, and even a hefty tax won't be a deterrent.
Just imagine how much upheaval it would cause you to move a few states over. For a millionaire... it's the same except they're used to so much beyond basic survival - their parties, their exclusive clubs, exclusive gatherings, private boxes in theatres, the list goes on.
Do you really see such a person moving to Bumfuck Nowhere, Nebraska, just because that town doesn't tax millionaires? Do you really see them giving up 80-90% of the "rich life" just to save their wealth? Hell nah. As long as you're not explicitly threatening to tax them out of existence, they'll stay. Because unlike the average people they can afford that extra expense.
But of course they don't want to, they just yap around threatening the move without committing to it.
A lot of millionaire wealth is tied to where they live. A New York lawyer or doctor can't just move to Miami and expect to have the same level. Business owners could potentially move, but they still would need to keep traveling back and forth. Ultimately, their social life and lifestyle is where they already liveand being the one who moved because "is expensive" it would be seen as cheap.
A quick search suggests most New York lawyers (avg $176k/yr) and surgeons (avg $300k to $750k) aren't going to be be affected.
More rich people lived there and the tax generated more than expected. That's awesome. Good news for NYC.
Good news for everyone, particularly any city that wants to try this
This article is from Jun 17
Have things changed that drastically in just five months to make it invalid? Since he just won this month, it seems to me that it's more relevant, not less.
It's a useful FYI, you... sanctimonious ape.
I’m from March 1979