“There have been studies looking at how specific states are driving high-income taxpayers to emigrate. And that means big Laffer-Curve effects. Which is good news because even politicians are probably capable of learning – sooner or later – that high tax rates won’t raise much revenue if the geese that lay the golden eggs decide to fly away. And since a picture tells a thousand words, here’s the map of taxable income migration put together by the Tax Foundation using IRS data. Federalism is a very valuable way of protecting people from statism. We see it when people move from New York. We see it when they escape from California.”
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