The NYT alleges that the claim that higher tax rates will drive rich people to lower tax jurisdictions is, well, "bogus." Refuting the argument matters for advocates of steep taxes on the rich, because people who argue for low taxes deploy the risk of "tax flight" to convert centrists to their side.
The notion of tax flight “is almost entirely bogus — it’s a myth,” said Jon Shure, director of state fiscal studies at the Center on Budget and Policy Priorities, a nonprofit research group in Washington. “The anecdotal coverage makes it seem like people are leaving in droves because of high taxes. They’re not. There are a lot of low-tax states, and you don’t see millionaires flocking there.”Well, maybe, but I had coffee yesterday here in Austin with a realtor who specializes in very high end homes. His experience, especially recently, strongly suggests that Mr. Shure might qualify his opinion just a smidge.