Embroiled in the California debate over Proposition 30‘s progressive income tax proposals, some politicians have argued that raising taxes on the highest earners will drive them to states with lower tax rates, taking businesses and jobs with them.
But a study released by the Stanford Center on Poverty and Inequality concludes that “millionaire migration” is simply a myth.
Stanford’s Cristobal Young, an assistant professor of sociology, and Princeton’s Charles Varner, a doctoral candidate in sociology, conducted the study at the request of the California Board of Equalization, allowing them unique access to California Franchise Tax Board income data.
To read the original article: Millionaire migration a myth, say Stanford researchers | ScienceBlog.com
