$1.5 billion in estimated revenue: A look at the Mass. 'millionaire's tax' first year
www.wbur.org
Advocates promised the new tax would bring in over $1 billion a year in new revenue. And they quickly saw their predictions surpassed: the state Department of Revenue estimates it will generate over $1.5 billion this fiscal year.
  • nbafantest@lemmy.world
    344·
    8 months ago

    "Meanwhile, overall state revenue collections are falling short of expectations, despite the new money from the millionaire’s tax.

    State finance analysts point to larger macroeconomic trends, like a drop-off in the purchasing of durable goods and a slowdown in hiring."

    Government Intervention 101, unfortunatly. Where’s that econ graph of this exact thing?

    • SeaJ@lemm.ee
      25·
      8 months ago

      Larger macroeconomic trends means that the trends are countrywide so your point kind of completely fails.