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Sure it does. It means taxes that are high enough that it becomes vastly rewarding for large numbers of people to dodge them are flawed.
by aetherson 7y ago
Sure it does. It means taxes that are high enough that it becomes vastly rewarding for large numbers of people to dodge them are flawed.
- minikites 7y agoThe evidence is not on your side: https://www.latimes.com/politics/la-pol-sac-skelton-income-tax-california-wealthy-20190311-story.html https://www.latimes.com/politics/la-pol-sac-skelton-income-t... >Sure, there are anecdotes galore. Everyone seems to know someone who has fled California to dodge its high taxes. But there’s no wholesale bolting of the rich. >“Substantially more rich people are moving into California than moving out,” says Cristobal Young https://www.courant.com/politics/hc-pol-millionaires-leaving-ct-1226-20181226-dy2bmxno7fdpnbeeojoowcuwyi-story.html https://www.courant.com/politics/hc-pol-millionaires-leaving... >Florida, which ranked 39th in per capita income in 2017 according to the U.S. Census Bureau, gained the most income through migration. But Florida generally is considered an outlier, given its extremely attractive climate. >“When Florida is excluded, there is virtually no tax migration,” the report states.
- aetherson 7y agoCalifornia's tax rates turn out to be much lower than 100%.
- mrep 7y agoFrance tried a 75% tax on income over 1 million and it caused so many people and capital to flee that their economy stagnated and they actually lost tax revenue [0]. [0]: https://www.forbes.com/sites/jonhartley/2015/02/02/frances-75-supertax-failure-a-blow-to-pikettys-economics/#2bf634d55df2 https://www.forbes.com/sites/jonhartley/2015/02/02/frances-7...