Not fleeing: New report shows more wealthy residents in Mass., 2 years into 'millionaire's tax'

AdvertisementBoston's Morning NewsletterApril 28, 2025Hanna AliEditor's Note:This is an excerpt from WBUR's daily morning newsletter, WBUR Today. If you like what you read and want it in your inbox,sign up here.Yes, it's Monday again. But on the bright side, it's going to be a warm, sunny day after (another) a weekend of rain.Now, let's get to the news:Staying and paying: It's been about two years since Massachusetts voters approved a "millionaire's tax" on wealthy residents in the state. But despite previous concerns, the tax hasn't seemed to deter high-earnersfrom continuing to live here, according to a new study from the Institute for Policy Studies, a progressive research group. Using data from Wealth-X, researchers found the number of residents making $1 million or more per year has increased by nearly 40% since the tax went into effect. Remind me again, what's this tax? Votersnarrowly approved a 4% surtax on incomes over $1 million in a statewide ballot referendum in November 202...