Politics10/21/2025•Bloomberg
Millionaire Tax That Inspired Mamdani Fuels $5.7 Billion Haul in Massachusetts
The article discusses a millionaire tax implemented in Massachusetts that has generated significant revenue without causing significant high-profile departures from the state. The tax, which inspired New York City mayoral frontrunner Zohran Mamdani, has generated $5.7 billion in revenue, $3 billion more than expected. The article suggests that this tax could serve as a model for taxing the rich in other states or jurisdictions. The article provides a concise overview of the key facts, including the revenue generated, the inspirational role it has played, and the lack of significant high-profile departures from the state as a result of the tax.
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