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Just doesnt work. The millionaire will move and then the state wont get a dime from him.

• jrockway 17y ago
  Maybe? But housing prices are already way higher in California (SF/LA) than they are in, say, Illinois (Chicago). If people are so concerned about money, why doesn't everyone move to rural Kansas? (Because California has nicer weather and better infrastructure, among other things.)
• mixmax 17y ago
  This is an often quoted argument, but in reality it doesn't happen as much as you would think. Millionaires are people too, and they care about their friends and family living close by, the city they live in, etc. If this were true we would have no millionaires in Denmark where we have a personal top tax rate of 65%. And we have quite a few. Even a few billionaires.