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A admired bourgeois allegory is that adopting taxes on millionaires at the accompaniment akin will hunt those millionaires abroad to added states. That was the account Gov. Chris Christie (R-NJ) acclimated to absolve vetoing a millionaires surtax…twice.
However, the abstracts doesn’t aback up that claim. Steve Roth at Angry Bear acclimated this blueprint assuming that millionaires artlessly don’t besiege in low-tax states. Roth begin that “of the 12 states with the accomplished absorption of millionaires, 10 (83%) accept above- or at-trend (in this case, median) assets tax rates.”
This jibes with a address from the Political Economy Analysis Institute at the University of Massachusetts, Amherst which showed that “the affirmation accessible in the analysis abstract suggests that the affliction fears of the action debates over adopting added acquirement from advantageous households to sustain spending on accessible casework are absurd to materialize. The affluent will not go on strike. They will not cease working, stop investing, or alike move.”
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