Massachusetts rolled out its so-called “millionaire tax” with a clear target: high earners bringing in more than $1 million annually. The policy promised increased funding for transportation and education, and it delivered a surge in state revenue. But the ripple effects have started to reach far beyond the ultra-wealthy.
Retirees—many of whom live on fixed incomes—now feel unexpected financial pressure tied to this tax change. Those indirect costs often creep in quietly, yet they can reshape retirement plans in meaningful ways.
