New Jersey Gov. Phil Murphy Announces Deal on Millionaires Tax

[rcjordan]

^{Texas, Florida, other no-tax states should make ready for an influx of high-income households.}

https://www.newser.com/story/296377/likely-coming-soon-to-nj-a-millionaires-tax.html

[ergophobe]

It's interesting how the definition of millionaire has changed. It used to be someone with a net worth of a million dollars. 

It made me curious. $1,000,000 in 2020 is equivalent, using standard inflation, to

$100,031.55 in 1951
$113,882.07 in 1960
$149,277.85 in 1970
$317,023.06 in 1980
$502,850.90 in 1990

Looked at the other way, a million dollars in 1970 is about $6,698,917.53 in 2020.

[ergophobe]

https://smartasset.com/taxes/states-with-the-most-million-dollar-earners

Despite the URL, the second table shows all states plus DC (which is #2 by percentage, BTW)