Got > $10 million in Minnesota?

[Axtremus]

https://www.house.mn.gov/sessiondaily/Story/19051

House lawmakers weigh proposed 'wealth tax' on assets over $10 million
...

The proposal basically is to levy an annual 1% tax on "taxable wealth" above $10 million, where "taxable wealth" is calculated the same method as that calculated for federal estate tax.

[jon-nyc]

Something like 8 states are pushing this.

Soon I’ll be officially politically homeless.

[Andrea B]

https://www.visualcapitalist.com/mapped-which-u-s-states-gained-the-most-residents-in-2025/

[Mik]

I don’t think it can stand. There’s a justification for property taxes as properties use and require government services. One cannot say the same for wealth.

[taiwan_girl]

I agree. Seems like it is a bad idea.

I doubt that anybodies parents told them that "I hope you grow up to be poor."

[Axtremus]

@Mik said:

There’s a justification for property taxes as properties use and require government services. One cannot say the same for wealth.

Nor income, yet we have broadly accepted “income tax.”

[89th]

For those wanting to know, this does not impact me.

[89th]

Although I did just vote yes on a $500M referendum to build a new elementary and middle school and do a bunch of other school renovations. Selfishly, the new schools would be built much closer to me and would likely be finished right in time for our oldest to start middle school at it. I think it adds an extra $400 per year to our property tax.

[jon-nyc]

@89th said:

For those wanting to know, this does not impact me.

Thank heavens.