Wealth Tax

Where Is Massachusetts’ Millionaire Exodus?

July 20, 2026 By Omar Ocampo and Aidan Rozema, Inequality.org. Educate! Billionaires, Massachusetts, Taxes, Wealth Tax

“Tax me all you want. I’m out.” In an interview with The Boston Globe, hedge-fund manager Paul Krager ominously predicted that the Massachusetts Fair Share Amendment—a four percent surtax on incomes above $1,000,0000—could “destroy the best city [Boston] and the best state in America.” He predicted that CEOs, corporations, and wealthy residents would all flee to more tax competitive states like Texas, Florida, and New Hampshire. His words echo other critics’ portrayal of a “Millionaire Exodus” where wealthy U.S. nationals renounce their citizenship to escape paying taxes.

A DC Wealth Tax Could Provide Relief For Black Residents

June 22, 2026 Kenneth Rashaun Woods, II, Inequality.org. Organize! Austerity, Black Communities, Economic inequality, Washington DC, Wealth Tax

Washington, DC is a city rife with economic inequality, especially on the basis of race. Black residents have watched outgoing Mayor Muriel Bowser slash away at critical social safety net programs while federal tax cuts further enrich the city’s wealthy elite, expanding a racial wealth gap that leaves the working class shouldering the burden of economic inequality. Local advocacy groups and lawmakers aiming to end this inequitable economic system are calling for a wealth proceeds tax, which is a surcharge on passive income like capital gains or dividends.

Union Coalition Brings ‘Billionaires Tax’ Proposal To Illinois

May 30, 2026 Mark Gruenberg, People's World. Organize! Billionaires, Illinois, Unions, Wealth Tax

Chicago - The “billionaires tax” idea, which has been gaining support in several states—including Washington state, where it’s now law—has come to Illinois, courtesy Chicago-area unions. After a morning press conference in Chicago, busloads of members of the Chicago Teachers Union, SEIU Healthcare Illinois, Cook County College Teachers Union Local 1600, SEIU Local 73, the Illinois Federation of Teachers, Warehouse Workers for Justice, and assorted progressive Chicago-area community groups descended on the state capital of Springfield.

Labor’s New Gambit To Tax The Rich

April 1, 2026 Rebecca Burns, In These Times. Strategize! Austerity, Labor Movement, State budgets, Wealth Tax

The threat of a city government shutdown loomed large in Chicago in December 2025 as the city faced an end-of-year deadline to close a projected $1.2 billion deficit. To counteract the impact of President Donald Trump’s 2025 tax law, Mayor Brandon Johnson had pitched a budget in October that would require some of the law’s biggest beneficiaries to pay more. His proposed payroll tax — on corporations with more than 1,000 employees — would, according to his administration, amount to less than 0.01% of the Trump tax cuts bestowed on companies like Google and Walmart.

Do Millionaire Surtaxes Lead To Millionaire Exodus?

December 1, 2025 Richard Solomon, People's Policy Project. Create! Massachusetts, Millionaires, Public Programs, Wealth Tax

November 2025 marks the three-year anniversary of Massachusetts voters approving a four percent surtax on annual incomes above $1 million.[1] The ‘Fair Share’ amendment has been a reference for New York City mayor-elect Zohran Mamdani, who has called for an additional 2% tax on city incomes over $1 million to fund his affordability agenda. Predictably, critics make gloomy prophecies of economic blight and elite exodus: Bill Ackman and 26 other billionaires spent big on Mamdani’s opponents, the Cato Institute called his tax plans ‘wishful thinking,” and Andrew Cuomo threatened to depart for Florida.

Rich-People-Friendly Think Tank Confirms Richest Pay Under One Percent In Annual Taxes

December 2, 2024 Bob Lord, Inequality.org. Educate! Taxes, Think Tanks, wealth inequality, Wealth Tax

The Washington, D.C.-based Tax Foundation has long functioned as an apologist for America’s deepest pockets. Analysts at the Foundation have spent years assuring us that our wealthiest are paying far more than their fair tax share — in the face of a reality that has our richest aggressively growing their share of the wealth all Americans are creating. This past August, the Biden administration’s Treasury Department commissioned a new study that documented just how little of their wealth America’s richest are actually paying in taxes. Last month, the Tax Foundation responded with a predictable critique.

G20 Calls For Taxing The Ultra-Rich To End Global Hunger And Poverty

November 21, 2024 Abdul Rahman, People's Dispatch. Create! G20, Hunger, Palestine, Poverty, Wealth Tax

The G20 summit in Rio De Janeiro concluded on Tuesday, November 19 with a united call for reforms in the global governance, global cooperation in tackling climate change, hunger and poverty across the world. The declaration also demanded immediate ceasefire in Gaza and a peaceful settlement of disputes in Ukraine. The G20 summit adopted a joint Leaders Declaration on Monday, in which it called for taxing the world’s ultra-rich and corporations as a way to fund the UN sponsored sustainable development goals (SDGs) such as eradicating hunger and poverty.

Pro-Palestine Protests Erupt In Rio Ahead Of G20 Summit

November 19, 2024 Al Mayadeen English. Resist! Anti-Austerity, Brazil, G20, Israel, Palestine, Palestine Solidarity, Rio de Janeiro, Social Movements, Wealth Tax

Hundreds of protesters marched along Rio de Janeiro’s iconic Copacabana Beach on Saturday, rallying in solidarity with Palestinians and addressing global issues just days before global leaders gather for the G20 summit. The peaceful demonstration, held under steady rain and watched by heavy security, aimed to send a message to the heads of state and government convening in the city on Monday and Tuesday. Protesters carried Palestinian flags and banners demanding an end to Brazil-"Israel" relations and a halt to military funding for "Israel's" genocidal campaign in Gaza and Lebanon.

Want More Equality Of Opportunity And Social Justice?

November 6, 2024 Omar Ocampo, Inequality.org. Create! Education, Equality, Massachusetts, taxation, Wealth Tax

This past summer, the Governor of Massachusetts Maura Healey signed a budget bill that guaranteed universal access to in-state community colleges. No matter age or socioeconomic background, irrespective of the degree or certificate sought, the tuition and fees at these fifteen institutions of higher learning are waived. The $117 million public investment allocated to the MassEducate program was made possible two years ago when, in an exercise of direct democracy, Bay State voters defied the tenets of neoliberal ideology. They approved a landmark progressive tax bill – known as the Fair Share Amendment – that imposed a four percent surtax on annual incomes above one million dollars.

For The Rich, One Nation Isn’t Rolling Out The Red Carpet

June 10, 2024 Sam Pizzigati, Inequality.org. Create! Norway, Taxes, wealth inequality, Wealth Tax

So you think the rich have life easy, do you? Just try telling that to the deep pockets who’ve spent tens of millions buying condos at 432 Park Avenue, the 11-year-old Manhattan luxury tower that once rated as our hemisphere’s tallest residence. Condo owners in the tower have had to put up with “faulty elevators, leaky plumbing, and noise issues.” They’re now suing the building’s operator. Or consider the plight of those fabulously wealthy souls who’ve had to pay millions to move their mansions off the sandy coast of Nantucket, the one-time hippie refuge that’s become a summer “holiday hot spot for billionaires.” The problem?

In Massachusetts, Unions Beat Billionaires To Pass A Tax On The Rich

November 13, 2022 Paul Prescod, Jacobin. Create! Massachusetts, Unions, Wealth Tax, Worker Rights and Jobs

Massachusetts - While the Democrats’ worst fears of a “red wave” did not materialize, the midterms also didn’t feature many clear affirmative wins for the Left. But in Massachusetts, working people scored a major victory with a ballot measure to tax the rich and fund public investment. Supported by a broad labor-community coalition, the passage of the Fair Share Amendment can serve as a model for ballot initiative campaigns nationwide. The Fair Share Amendment will create a 4 percent tax on annual income above $1 million. The funds raised from this measure are mandated to be spent on public education, transportation, and infrastructure repair. According to the Institute on Taxation and Economic Policy, the amendment will generate over $2 billion every year for the state.

Real Estate Industry Spends Big To Crush ‘Mansion Tax’

October 31, 2022 Aditi Ramaswami, The Lever. Educate! California, Housing, Los Angeles, Real Estate, Wealth Tax

Los Angeles, California - In the coming weeks, Los Angelenos will vote on a ballot measure to hike taxes on the sale of multimillion dollar properties, with the expected near-billion dollars in annual revenue going towards addressing the housing crisis in the second-largest city in America. The initiative has been strongly opposed by real estate interests — from huge corporate landlords to realtor lobbying groups and pro-business groups — who have so far poured more than $5 million into efforts to defeat the measure. Measure ULA, which would increase real estate transfer taxes on properties in the city of Los Angeles valued at $5 million or more, would only apply to an estimated four percent of real estate transactions annually.

Voters Could Help Stem The Homelessness Crisis In L.A.

October 19, 2022 Annie Howard , In These Times. Create! Ballot Initiative, Elections, Housing, Los Angeles, Wealth Tax

Los Angeles, California - After increasing nearly 25% between 2018 and 2020, the homeless population in the Los Angeles area has grown more slowly over the past two years. According to the latest count from the Los Angeles Homeless Services Authority, L.A. County’s unhoused population grew from 66,436 in 2020 to 69,144 in 2022, an increase of 4.1%. While there are numerous reasons for this downtrend, government intervention has played an important role. Such measures as Project Roomkey, which used federal, state and local funds to keep more than 10,000 residents in hotels and motels during the Covid-19 pandemic, showed that even modest public programs can make a significant impact on the city’s housing crisis, even as the initiative’s remaining residents lost their housing at the end of September.

The Case For Taxing The Rich Gets An Unexpected Boost

June 1, 2022 Sam Pizzigati, Counter Punch. Educate! Finance and the Economy, Taxes, wealth inequality, Wealth Tax

We’ve had quite a show up in the Alps this week, the first in-person gathering of the world’s mega rich since Covid hit. The occasion? The annual World Economic Forum at the Swiss resort of Davos, an ever-so-sober gathering that has an assortment of global deep thinkers sharing their wisdom with deep pockets ever eager for policy ideas that don’t involve sharing their wealth. Also on hand, in person and remotely: a collection of the world’s most stalwart egalitarians, advocates ranging from activists with the Patriotic Millionaires to analysts at the anti-poverty powerhouse Oxfam. These analysts, on the eve of Davos, released gripping new data on how billionaires in food and energy have been swelling their fortunes — at consumer expense.

«1 2 »

assetto corsa mods

Daily movement news and resources