Government

Do The Rich Flee High-Tax States?

Bound for cheaper waters?

hide captionBound for cheaper waters?

AP/via PR Newswire

The very rich have planes and helicopters and yachts. They can go wherever they want, whenever they want.

On today's Planet Money, we pose a question being debated in state capitals around the country: Do the rich flee high-tax states?

We talk to a bunch of people and read a bunch of studies. We hear stories about rich people moving from high-tax to low-tax states — especially when they retire.

But when economists look at the big picture, the anecdotes don't add up to data. As one expert tells us, "Taxes [have] essentially no impact on causing people to leave a state."

For More:

Three Studies!

  1. Boston College study cited by NJ Gov. Chris Christie.
  2. How taxes influence migration patterns in New England.
  3. How a New Jersey tax hike affected millionaires.

Download the podcast, or subscribe. Music: Barenaked Ladies "If I Had A Million Dollars" and Berlin Philharmonic Orchestra's "Mozart: Eine kleine Nachtmusik, K.525: I. Allegro." Find us: Twitter/ Facebook.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: