Millionaire migration following tax hikes a myth, study finds
Monday, November 5, 2012 - 07:43
in Paleontology & Archaeology
(Phys.org)—Anti-tax advocates argue that millionaires will flee from states that raise taxes on their highest earners. But a study by Stanford and Princeton researchers shows no evidence of millionaire migration in response to recent tax rate changes. Other factors, such as personal and business contacts, seem to weigh more heavily in deciding where to live.