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Sam Slater says he wants to raise his children in Massachusetts, despite paying the millionaire's tax.Sam SlaterCalifornia's proposed wealth tax is sparking debate among billionaires across the state and the US.Sam Slater, a real estate developer, has paid the 4% millionaire's tax in Massachusetts since 2023.Though his lifestyle remains unaffected, Slater says he'd consider moving if taxes continue to rise.This as-told-to essay is based on a conversation with Sam Slater, a 41-year-old real estate developer based in Boston. It's been edited for length and clarity.I was born in South Florida, where my parents and uncle currently live, and I moved to Massachusetts when I was 10 years old.I run our family office, which is based in both Boston and Palm Beach, Florida. We have business ventures across multiple industries, but my focus is on our real estate portfolio. From light industrial to agricultural to multifamily real estate, we're well-diversified across many states in the US, as well as Canada.It's been interesting to see an increase in national interest in the Massachusetts millionaire's tax as some initiatives in other states come up. I have friends in other markets who have been asking about it. Since its implementation in 2023, the obvious question to me is, why wouldn't I move back to Florida?The truth is, I often think about moving, but I feel strongly about why I'm staying. It's all for my kids.I've witnessed wealthy friends leave Massachusetts after the state taxIn addition to my focus on real estate, I also work in the sports and entertainment industry. I hold a minority ownership stake in the Seattle Kraken, an NHL team, and last year, I joined the ownership group of the Memphis Grizzlies. I'm very active in the world of sport, and it's been a really enjoyable and successful venture. Over the past 15 years, I've also produced over 40 feature films.With the progression of state taxes in the last few years, particularly the millionaire tax, I've seen many people, including friends in the hedge fund, private equity, and finance spaces, move or confirm their plans to do so. However, I'm in a slightly different situation.I want my kids to grow up in MassachusettsI have two younger children, a 7 and 10-year-old, and I would prefer them to grow up here with all that Massachusetts has to offer.We live in a town with a wonderful public school system, and I don't want to take that away from them. More broadly, eastern Massachusetts and Boston, in particular, are highly accessible areas and offer a lot. We've got everything from sports to culture, and all four seasons. I don't want to pull my kids from that for my desire to pay less in taxes.If my children weren't young, maybe my answer would be different.I'd consider moving if things keep trending in this directionIt's difficult to say if any changes I've seen in Massachusetts are a direct result of this particular tax. The broader market conditions in the economy are, in certain areas, quite strong, while in other areas, they are not.If you take condominium sales in downtown Boston, we're at extraordinarily low points both for pricing and velocity, especially if we're looking back on a 10 or 15-year horizon. I think it would probably be a stretch to say it's solely because of this tax, but high earners leaving Massachusetts removes potential high-end condominium buyers from the market.The wealth tax in Massachusetts hasn't affected my lifestyleFortunately, I haven't had to make any lifestyle changes because of the wealth tax, but I'm certainly aware of the taxes I pay in general, specifically as a result of this tax. My question is, what will come next after this?What remains to be seen is how the additional revenue brought in to Massachusetts from this tax will trickle back to everyone in the Commonwealth.If taxes continue to increase and no one can…

Le Conservatoire Pierre Barbizet de Marseille ouvre grand ses portes pour une nouvelle édition de La Nuit du Conservatoire, placée cette année sous le signe de l'improvisation.Lire la suite

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Dans 50 ans, tous musulmans, soumis à la charia, réduits à l'esclavage selon les directives d'un prophète d'Arabie qui vécut il y a 1500 ans. Tous musulmans ou tous morts, n'oublions pas que le Coran permet de tuer les mécréants. Au Moyen Âge, les esclaves chrétiens étaient castrés, pour leur interdire toute descendance Chouette destin pour l'Europe millénaire, avec sa culture chrétienne antérieure à l'islam, qui a tant fait pour créer l'humanité moderne. Et tout cela non pas tant par la puissance physique ou intellectuelle de l'islam, mais par l'amollissement de l'occident et la collaboration intéressée de certains de ses membres. Je suis trop âgé pour voir cela mais je plains mes enfants, tout en espérant, peut-être naïvement, un sursaut salvateur ou une prise de conscience générale.