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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world A millionaire levy in Massachusetts that New York City mayoral frontrunner Zohran Mamdani holds up as a model for taxing the rich has generated $3 billion more in revenue than expected without forcing significant high-profile departures from the state. In the two years since the state started charging a 4% surtax on incomes over $1 million, the effort has created a $5.7 billion windfall, with the surplus being used to fund bridge repairs, bolster literacy programs and address the transportation system’s budget deficit.
