Jeff Jacoby warns that those who earn over $1 million a year will simply leave Massachusetts if they are taxed at a higher rate “Millionaires tax is unwise and unworthy,” Opinion, July 27).
However, states like New York and California that have the highest tax rates on million-dollar incomes are also home to the most million-dollar income households. Why? Because the super-rich can afford to live where they want and let their accountant worry about their taxes. Those states are desirable places to live because they reinvest money from taxing the very rich back into public goods that produce an educated workforce and a higher standard of living.
As a Boston resident and parent of young children, I want nothing more than to create a community that values education, robust public resources, and collective investment in shared well-being. The super-rich have accumulated wealth with the support of these very things. For only an additional 4 cents of each dollar earned above a million dollars, we can restore and revitalize our economy and create the communities we all want to live in.