A Massachusetts “millionaire’s tax” (extra 4% tax on $1M+ incomes) has earned the state more than $1.8 billion in income for fiscal 2023. That’s about double the estimates and the funds will be spent on education and transportation.
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Comments 2
"Millionaire" and "billionaire" refer to some-one whose lifetime accumulation of assets exceeds a million or a billion dollars.
English doesn't have a convenient term for someone whose yearly income exceeds a million or billion dollars. Maybe because we've never needed such a term until lately.
The tax here is not on millionaires, but on million-dollar-a-year-aires, or whatever that should be called.
Good god. As a Midwesterner I could only dream of my state spending that much on schools and transportation.
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