Monday, March 16, 2026

How's that millionaire tax looking now?

It's not just California.  Massachusetts was the pathfinder for soaking the rich.  Boston Globe: "‘Everyone’s leaving’: Why more of the wealthy are moving from Massachusetts to other states."
If there’s a group of people you probably don’t spend a lot of time worrying about, it’s those with tens — or hundreds — of millions of dollars.
But Paul Karger argues you should. At least, you should worry when they start heading for the exits.
Which is precisely what they’ve done in Massachusetts, says Karger, the cofounder and managing partner of Boston-based Twin Focus, a firm that manages investment portfolios for wealthy families.
“Half of my Massachusetts clients over the last five years have either left or are planning to leave,” Karger says. That represents “billions of dollars in net worth and hundreds of millions of dollars in annual income.”
Maybe we can get Bernie Sanders to come down from Vermont and shake his finger at them.

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