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I pay the tax rate on the assessed value. should I make some more tax donations to make you feel better about yourself?

I think you hit on it when you mentioned that people are worried they’ll be rich and have to pay taxes. That’s an American disease .

Otherwise the study you cited makes more of an argument for raising the tax higher if we don’t think it will collect enough money.

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But they're not talking about doing that. They're talking about a city wide ban that would add to congestion. To solve visibility problems, you don't need legislation. You can either remove those corner parking spots like you said, or have city works drive through Cambridge, identify turns with visibility issues, and put "No Turn on Red" signs there.

How long ago was this?

And where was it? I don't know of any streets that don't even have street cleaning signs.

I'm ok (and most of Mass. is ok, apparently) with the landed gentry/capitalists having to pay an additional 4% of tax on their one-time earnings in excess of $1,000,000.

While you are correct that the .01% needs to be taxed A LOT more, the 1% can handle it as well

Don’t they suspend street cleaning in the winter? Also for snow, they only close one side of the street parking. I think it alternates each year. Maybe not. If you park on the right side of the street you should be ok. Leave keys with a friend just in case?

I mean, you wanted to know the other perspective. Obviously if only 6% of the state theoretically is impacted each year, there is a much larger part of the population that worries they will be part of that 6% over their lifetime. Which is what the study points out; the majority of that 6% is single income incidents. I mean, you might as well just increase the taxes on lottery winnings if thats the goal

I think you might not understand that the wealthy are well past 1m in assets. You realize you are closer to being a millionaire than something like Bezos right? We are just eating ourselves with these. The median Boston house price is what, 800k? A six figure salary in Boston is not the same as a 6 figure salary in rural Kentucky

Yep. Happened to me before I had a resident permit. I was parked on an unsigned street. There are still no signs there and it's odd because they can never tow during street sweeping due to it. They always come and the DPW says they can't sweep until traffic hangs the signs

We should have upped the percentage.

> I'm sure many folks in the tech/pharma space have found themselves in that spot. plenty of mass based startups have given locales overnight windfalls. Why should the burden on the mass education system fall on their shoulders? Just increase corporates taxes. What do you have against people keeping the money they earned? > >

Very few people are making >$1M over the course of their lifetime. Startups that pay out that kind of money are extremely rare too. Even joining a FANG isn't likely to net you $1M unless you work there for decades.

> I mean hell, anyone who bought property in cambridge in the 90s or even 2000s probably have seen their property value double. just because it passes the million dollar mark doesnt mean they should suddenly owe the state more money

You don't "suddenly" owe the State more money. It's anything above a million. You still get a million bucks at the existing tax rate. If you have >$1M in housing equity, you're extremely well off and can afford a higher tax rate.

> It's crazy that the increased tax bill passed. Why not just vote to increase state corporate taxes instead? > >

Why not both?

> With some many schools per capita, surely people must have an expectation that they have a chance at a high income job. Or at least a chance at buying an expensive property at some point in their lives.

I don't think many people expect to become millionaires. 56% of Americans can't even afford a $1000 emergency for example.

> It's also wild that most people don't seem to understand this won't impact billionaires and the rich they claim to hate. This is just a tax on the upper middle class. So good job team. I'm sure the actual law will get all types of carve outs so politicians aren't impacted, but it would be nice if there was a windfall exception so that lottery winners, home sales, and just one time income spikes were exempt

No one who has $1M in assets or yearly income is upper middle class. They're solidly wealthy.

>https://cspa.tufts.edu/sites/g/files/lrezom361/files/2022-01/cSPA_Evaluating_MA_Millionaires_Tax.pdf
>
>A very small number of taxpayers take home more than $1 million on a consistent basis. Indeed, just 6 percent of Americans who exceeded the threshold between 1999 and 2007 did so in every one of those years; only 20 percent did so more than half the time.
>
>By contrast, half of all million-dollar earners between 1999 and 2007 were one-timers. This matches what we know about life-cycle earnings. It’s much more common for families to experience a one-time million-dollar windfall than to make $1 million year after year: think of dentists who sell their practices, business-owners bought out by their partners, or individuals selling a valuable investment they’ve held for decades.

I suspect it's because many people read the study and realized it wasn't going to have the impact proponents were advocating

I don't agree with the city's recent widespread removals of on-street parking. But removing one space at corners with visibility problems is worth it in my opinion.

The storage regulation has an official exception for permit holders.

There's fewer and fewer spots where a nonresident can park for more than 2 hours, but does the city enforce the storage regulation at all these days?

Shocking how close the tax question was. The lies about home sales must have been effective.

and I bet you elect to pay the higher tax rate every year too

I bought a house in cambridge in 2010. It's now worth $700k more than I bought it for and will very easily sell for over $1M if I were to sell today. I'm happy to pay more on that sale, it's the right thing to do.

from the Tufts study. I don't blame the general public for eating the "tax the rich" narrative, but even the Tuft study points out that anyone who is likely to be consistently impacted by this will just leave the state. Even Tufts seems to agree the outcome of this might not be what proponents are advertising

​

https://cspa.tufts.edu/sites/g/files/lrezom361/files/2022-01/cSPA_Evaluating_MA_Millionaires_Tax.pdf

​

A very small number of taxpayers take home more than $1 million on a consistent basis. Indeed, just 6 percent of Americans who exceeded the threshold between 1999 and 2007 did so in every one of those years; only 20 percent did so more than half the time.

By contrast, half of all million-dollar earners between 1999 and 2007 were one-timers. This matches what we know about life-cycle earnings. It’s much more common for families to experience a one-time million-dollar windfall than to make $1 million year after year: think of dentists who sell their practices, business-owners bought out by their partners, or individuals selling a valuable investment they’ve held for decades.

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Research out of Tufts showed that this would affect ~0.6% of MA taxpayers. Please explain how that translates to "upper middle class".

https://taxfoundation.org/massachusetts-graduated-income-tax-amendment/ /shrug I mean, as far as I can tell, if your income passes 1 million, you now get to pay extra. But I could be wrong. What carve outs are there?