Source: American Institute for Economic Research
by Thomas Savidge
“A recent Wall Street Journal article quoted former New England Patriots Head Coach Bill Belichick commenting on the team’s struggles to recruit talent, especially free agents. The main problem is taxes. ‘That’s Taxachusetts,’ Belichick lamented, ‘Virtually every player, even the practice squad, even the minimum players are pretty close to $1 million. Once you hit the $1 million threshold, you pay more state tax in Massachusetts.’ It’s difficult to compete with teams in states that have flat income taxes. It’s not just the New England Patriots that are struggling to get talent. The Commonwealth of Massachusetts had a net outflow of over 26,000 taxpayers, costing the state $3.87 billion in 2022 alone. Research from Boston University shows that the number one reason taxpayers are fleeing is healthcare costs. The good news is that it does not have to be this way.” (09/12/24)
https://www.aier.org/article/from-taxachusetts-to-city-upon-a-hill/