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Study says Massachusetts millionaires tax wouldn t just hit the mega-rich Boston Herald (MA) Pioneer Institute says the so-called millionaires tax that s regularly discussed on Beacon Hill wouldn t just dip into the pockets of the wealthiest few, but would also nail middle-class people cashing out for retirement. Despite its purported goal of taxing only the uber-rich, the graduated income tax would fail to protect people of more modest means from overtaxation on one-time windfalls, wrote study authors Greg Sullivan and Andrew Mikula. It has the ability to push those with significant capital gains and valuable asset sales into higher tax brackets, punishing owners of retirement nest eggs and desirable real estate. In practice, these one-time millionaires, who cash in on a lifetime of work and sacrifice in anticipation of retirement, out-number those who consistently have seven-figure salaries or stock market windfalls.

United statesBeacon hillLindsay sabadosaAndrew mikulaJim stergiosGreg sullivanMassachusetts supreme judicial courtPioneer instituteTribune content agencyBoston heraldSupreme judicial courtஒன்றுபட்டது மாநிலங்களில்பெக்கான் மலைஆண்ட்ரூ மிகுலாகிரெக் சல்லிவன்மாசசூசெட்ஸ் உச்ச நீதித்துறை நீதிமன்றம்