The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Congratulations, Massachusetts Liberals: Your ‘Millionaire Tax’ Just Cost the Patriots an All-Pro Wide Receiver

Posted on | July 16, 2023 | Comments Off on Congratulations, Massachusetts Liberals: Your ‘Millionaire Tax’ Just Cost the Patriots an All-Pro Wide Receiver

Here’s a fact: Tennessee has zero state income tax.

Here’s another fact: Last year, Massachusetts voters passed a referendum approving a 4% “millionaire tax” in addition to the state’s existing 5% income tax, so that all income over $1 million a year earned by Massachusetts residents is now taxed at 9%. So in order for the New England Patriots to be competitive with the Tennessee Titans in bidding for the services of All-Pro free agent wide receiver Deandre Hopkins, they would have had to add about 10% to whatever the Titans offered.

And this competitive disadvantage, which the voters of Massachusetts have imposed on the Patriots, will also apply to athletes for the Celtics in the NBA, the Bruins in the NHL and the Red Sox in baseball.

It’s not just Tennessee that has zero state income tax — Texas, Florida and Nevada also don’t have a state income tax, so top free agent athletes now have an incentive to sign with Houston, Dallas, Miami, Tampa, or Las Vegas, rather than to go to Boston and get ripped off for 9% of their salary because of stupid liberal voters in Massachusetts.

Hey, math quiz: What’s 9% of zero? Because you’re not going to get any tax revenue from millionaires, if millionaires leave your state.

Never mind. Math is “white supremacy,” they tell me.



 

Category: Economics, Massachusetts, Sports

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