BOSTON — Proponents of last November’s Income Tax Amendment continue to assert that high-income earners subject to the new tax won’t leave Massachusetts. However, as Pioneer Institute’s Aidan Enright explains in a new policy brief, their arguments rely on partial information and number games. The loss of even a small percentage of high-income earners could mean a loss of $4.36B in total reported income. Such a blow to the state’s tax base would be difficult to recuperate in light of trends showing that adjusted gross income continues to flow from Massachusetts to states with lower or no income tax, such as New Hampshire and Florida.
https://pioneerinstitute.org/wp-content/uploads/Tax-Migration-4-Enright.png 512 1024 Editorial Staff https://pioneerinstitute.org/wp-content/uploads/logo_440x96.png Editorial Staff2023-04-14 09:05:392023-05-02 11:27:05Debunking Migration Myths, Part 2