Letter: ‘Millionaire Tax’ asks wealthiest to contribute fair share

Posted 8/28/26

To the editor: I felt compelled to respond to Mrs. Macdonald’s letter about the ‘Millionaires Tax.’ I connect with her personal story because I too grew up less fortunate. There are some …

This item is available in full to subscribers.

Please log in to continue

Log in

Register to post events


If you'd like to post an event to our calendar, you can create a free account by clicking here.

Note that free accounts do not have access to our subscriber-only content.

Day pass subscribers

Are you a day pass subscriber who needs to log in? Click here to continue.


Letter: ‘Millionaire Tax’ asks wealthiest to contribute fair share

Posted

To the editor:

I felt compelled to respond to Mrs. Macdonald’s letter about the ‘Millionaires Tax.’

I connect with her personal story because I too grew up less fortunate. There are some differences, though. We had an apartment, not a house. And we didn’t have four bedrooms, but my brother and I shared one, and we got along quite well. My father, as a single dad with three kids, worked very hard, much like hers, but it was never enough.

But that isn’t relevant to the ‘Millionaire’s Tax.’

I found the breakdown of the “three typical reactions to rich people” to be a bit tone-deaf and, as the kids say, cringe. Particularly the suggestion that any negative reaction to the rich is “motivated by jealousy from people who are not willing to work hard, improve their skills and earn more.” I’m not sure if you know this, but there are people in this country who, no matter how hard they work, will never get to experience even the modest scenario you described as your childhood. These folks work hard, sometimes multiple jobs, and still can’t get ahead. They are given fewer opportunities to go to college, to be awarded the promotion they worked hard for and deserve, or just simply succeed. They aren’t indifferent or jealous, nor do they lack the motivation to succeed. They are marginalized in a system designed to hold them back.

But that isn’t relevant to the Millionaire’s Tax.

The portrait painted of the philanthropic “Harry and Hilda” seems like a fictional ideal set up to make the ultimate question unanswerable. Though the math is correct, she left out why H & H would be charged more for their property tax. It’s a statute in Middletown that nonresidents are taxed on their properties at a higher rate, about $2.60 more per $1,000. Also, the State-imposed Non-Owner Occupied Property Tax Act imposes an additional tax on properties assessed over $1 million that are not the primary residences of the property owners. How do you avoid that? Occupy the house you love in the town you love for 183 days or more. Residents are more important to towns than rich investors. They live there year-round with more opportunities to support local businesses and invest in the community.

But that isn’t relevant to the ‘Millionaire’s Tax.’

The proposed ‘Millionaire Tax’ would be applied to taxable income, not property. So, “Harry and Hilda” wouldn’t be on the hook for the ‘Millionaire Tax’ unless they have income derived from Rhode Island sources (i.e., rental income from properties located in the state).

There is a negative reaction to millionaires because they whine about paying taxes and often benefit from loopholes and investment schemes, allowing them to pay way less in taxes, if at all. Many states, including Rhode Island, have a graduated income tax rate. If you make more money, you pay more taxes. The federal government is that way as well. The ‘Millionaire Tax’ aims to ensure that the wealthiest residents contribute a fair share.

Uriah Donnelly
Warren

2026 by East Bay Media Group

Barrington · Bristol · East Providence · Little Compton · Portsmouth · Tiverton · Warren · Westport
Meet our staff
Jim McGaw

A lifelong Portsmouth resident, Jim graduated from Portsmouth High School in 1982 and earned a journalism degree from the University of Rhode Island in 1986. He's worked two different stints at East Bay Newspapers, for a total of 18 years with the company so far. When not running all over town bringing you the news from Portsmouth, Jim listens to lots and lots and lots of music, watches obscure silent films from the '20s and usually has three books going at once. He also loves to cook crazy New Orleans dishes for his wife of 25 years, Michelle, and their two sons, Jake and Max.