We tackled the myth that businesses are leaving the state because of taxes a couple of weeks ago. (Hint: they seem to be leaving every state -- at least they seem to be leaving the ones where conservative think tanks used the same talking points...)
And we pointed out that a 2% tax increase on incomes above $500,000 means that people making $600,000 after all deductions would pay an additional $38.42 per week (which is deductible from federal taxes).
So are rich people are leaving the state over $38.32 per week?
According to a Wall Street Journal op-ed, the rich are leaving lots of states,
"California, Connecticut, Delaware, Illinois, Minnesota, New Jersey, New York and Oregon"The op-ed goes on to claims that,
"more than 1,100 people every day including Sundays and holidays moved from the nine highest income-tax states such as California, New Jersey, New York and Ohio"So 1,100 rich people every day are leaving these states! That's a lot of yachts being moved to the Nevada desert!
But wait! PPIC Report Finds Poor Leave California At Much Higher Rate Than Rich.
I guess no one will be left in California soon.