According to Massachusetts Health and Hospital Association, Massachusetts has a shortage of 19,000 health care workers. From WWLP.com
The Massachusetts Health and Hospital Association estimated last fall that hospitals around the state are about 19,000 full-time workers short, and former Gov. Charlie Baker warned before he left office that insufficient staffing creates both “real cost consequences” for patients and “pretty severe” financial headaches for providers.
According to NAR, Massachusetts lost 57,000 people to other states in 2022. The state has an impressive list of companies that make it their home including Ratheon, General Electric, TJX, Thermal Fisher, Liberty Mutual, Moderna, and more. The big question is if Massachusetts can keep these companies and their employees in the state because nearby states are licking their chops as Massachusetts implements a new millionaire tax.
From New Hampshire Business Review:
The new Massachusetts tax went into effect Jan. 1. It imposes an additional 4 percent income tax on the portion of annual taxable income in excess of $1 million (indexed for inflation). The tax affects high-income taxpayers annually and may affect some taxpayers on a one-time basis as a result of certain events, such as upon the sale of an expensive home or a business.
NH Business Review
So will Massachusetts have a larger exodus of people in 2023 due to this new tax and boomers retiring to the warmer south? Only time will tell but we’ll keep an eye on these developments and seek ways to profit from the changes so stay tuned, stay profitable and stay solvent…