No. of Recommendations: 4
This paper takes a look at several states, CA included. The migration (in and out) seems mostly unrelated to tax policy.That paper seems to be several years old. What about more recent data?
finance.yahoo.com - Leaving rich americans ditching california‘We’re leaving!’: Rich Americans are ditching California and ‘taking their tax dollars with them — and now the tax rates they're fleeing have been raised even higher
Analysis of the approximately 750,000 people who have bid farewell to California over the last three years has revealed that thousands more high-earning, well-educated workers have left the Golden State than have moved in.
This is a problem — as Joel Kotkin, a fellow at Chapman University, told the Los Angeles Times — because: “People who are leaving are taking their tax dollars with them.”And how many businesses have relocated away from the state?
Jeff Bezos recently bailed on his native Washington state because of targeted taxes.
At any rate. Incentives drive behavior. Merely taxing a few people more isn't going to solve a $1.8 trillion
annual deficit.
