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The Myth of the One-Year Middle Class Millionaire
“One-time” occurrences of $1 million income are relatively rare overall, and in fact much rarer for the middle-class. It is far more common for tax ...
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Very Few Small Businesses Sell for More Than $1 Million; Even Fewer Would be Subject to Fair Share
Will small business owners be subject to the proposed Fair Share tax if and when they sell their businesses? Very unlikely.
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Even Among Retirees with High Wealth, Few Will Pay the Fair Share Tax
The proposed “millionaire tax” only applies to the portion of a taxpayer’s annual taxable income over $1 million. For many retirees, much of their income ...
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Fundamentally Flawed: 62F Formula Overstates “Excess” by $1.4 Billion
The $2.9 billion estimate of 62F "excess tax collections" recently certified by the State Auditor overstates these net Fiscal Year (FY) 2022 collections by $1.4 ...
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Where Might Home Sales Be Subject to the Fair Share Amendment? A Local Breakdown
In the majority of Massachusetts cities and towns, no homes sold for a net gain of $1 million or more, meaning they wouldn't be subject ...
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62F Credits Benefit the Rich
The “tax cap law,” or what is known as “62F,” sets an artificial limit on how much tax revenue Massachusetts can collect, regardless of the ...
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Interactive Map: Most Home Sales Will Not Likely Lead to Fair Share Tax Payments
Even in Massachusetts’ hot housing market with many homes selling for over $1 million, the vast majority of all home sales will not subject the ...
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Fair Share Facts: New Report Tackles “Millionaires Tax” Claims
Contact: Reginauld Williams, 617-426-1228×102, rwilliams@massbudget.org For Immediate Release: Thursday September 15, 2022 BOSTON – With just over 50 days left until the general election here ...
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Best Research Underscores Value of Fair Share Amendment for Massachusetts Residents
An extensive body of research shows that Fair Share would improve tax fairness, support economic and racial justice, and strengthen our state economy. The research ...
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Fair Share Tax on Incomes Over $1 Million Would Generate at Least $2 Billion a Year
MassBudget estimates that the Fair Share tax on incomes over $1 million is likely to generate at least $2 billion a year in new revenue ...
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