Massachusetts approved a millionaire tax of an extra 4% of income above $1 million in 2022. This is in addition to the 5% state income tax everyone pays. So the wealthy in that state pay 9% on top of their federal income taxes of 37%.

Massachusetts approved a millionaire tax of an extra 4% of income above $1 million in 2022. This is in addition to the 5% state income tax everyone pays. So the wealthy in that state pay 9% on top of their federal income taxes of 37%.

As a result, they are moving to New… pic.twitter.com/428fyJym0T

— Wall Street Mav (@WallStreetMav) March 21, 2026