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TheCavis t1_iu6hdwl wrote

> I get that 1 mil seems like a lot to most people now but it really isn't that much. Sure, maybe tax them but have a rider on that tax so that as inflation blasts higher so does the threshold? Or is that too radical in the opposite way?

That is in the text of the question. From the summary on the Secretary of State website:

> This proposed constitutional amendment would establish an additional 4% state income tax on that portion of annual taxable income in excess of $1 million. This income level would be adjusted annually, by the same method used for federal income-tax brackets, to reflect increases in the cost of living.

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thomastodon01027 t1_iu6lli3 wrote

I actually didn’t know that part. That’s helpful.

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Intrepid_Priority154 t1_iu6ngq5 wrote

Do you guys think the standard deduction is increasing the same rate as inflation?

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thomastodon01027 t1_iu6r1sj wrote

Well no but, to OP’s point, by the time that the median wage is $1,000,000/yr, they likely will have adjusted a few times.

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CertifiedBlackGuy t1_iu705vr wrote

I'm pretty sure they won't be alive

Unless MA becomes the site of a literal money printer.

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