When do taxes cause millionaires to move?

Discussion in 'Business & Economics' started by Plazma Inferno!, Jul 1, 2016.

  1. Plazma Inferno! Ding Ding Ding Ding Administrator

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    4,609
    With inequality rising and related political concerns rising faster still, a number of states have imposed millionaire taxes in an effort to close the growing wealth gap, redistribute income, and generate more revenue. But to what extent do the super-rich actually move away from a state to avoid taxes? That’s the key issue addressed in a new study. To get at this, the authors used detailed IRS data on the tax returns of all million-dollar income-earners in the U.S. between 1999 and 2011.
    Strikingly, they find that millionaires move at a lower rate (2.4 percent) than the population as a whole (2.9 percent), but those who do relocate are looking for a tax cut.

    http://www.citylab.com/politics/2016/06/do-taxes-really-cause-the-rich-to-move/487835/
     
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  3. iceaura Valued Senior Member

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    So it's a win/win.
     
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