Advocates promised the new tax would bring in over $1 billion a year in new revenue. And they quickly saw their predictions surpassed: the state Department of Revenue estimates it will generate over $1.5 billion this fiscal year.
Anyone who makes a million a year can afford an extra 40k in taxes per year regardless of how much their house costs. I live in NJ where home prices are similarly high; still doesn’t mean millionaires shouldn’t pay their fair share.
Anyone who makes a million a year can afford an extra 40k in taxes per year regardless of how much their house costs. I live in NJ where home prices are similarly high; still doesn’t mean millionaires shouldn’t pay their fair share.