Re “Groups sue to keep tax on wealthy off ballot” (Page A1, Oct. 4): Based on my professional and social experience with wealthy and successful individuals, including significant time spent in Florida (though I remain a Massachusetts resident), I believe that the proposal to impose an additional tax on high earners would be counterproductive, since it would drive more wealthy residents out of the state.
Massachusetts already has lost enough of its tax base to Florida and other states, as high earners have bolted for more tax-friendly jurisdictions. If this ballot question were to advance, it would be continuing to kill the goose that laid the golden egg.
This has nothing to do with fairness and whether one is being soft on the successful and well-to-do. It has to do with real life and economics. It’s a matter of what is best for the Commonwealth of Massachusetts in terms of maximizing its tax revenues as well as the income and business activity from the most successful and productive sectors, and highest spenders, of our society. And it’s a matter of opportunity and jobs for the many residents who remain here.