Teachers unions in Massachusetts have spent big bucks trying to convince voters to approve a massive tax hike.
Voters in the Bay State will decide on Tuesday whether to impose a new 4 percent "fair share" tax on income in excess of $1 million—on top of the 5 percent flat income tax that all Massachusetts residents pay. The new "millionaire's tax" constitutional amendment has some deep-pocketed supporters in the state, with teachers unions having ponied up $22 million to back the initiative, according to the Boston Globe, which surveyed state campaign finance reports.
