You know how Republicans always talk about cutting taxes on the rich so they won't leave the state for low-tax jurisdictions? Turns out this GOP talking point is just like every other GOP talking point: Divorced from reality.
In North Carolina, the myth of wealthy people migrating to other states in response to tax hikes has been used to justify slashing tax rates on corporations and the rich. But the facts tell a far different story, say experts. “In 2003, after North Carolina added a high-earners tax bracket, there was actually an increase in wealthy people moving to the state” said Alexandra Forter Sirota, Director of the NC Budget & Tax Center. “This new research confirms what years of experience and previous studies have told us."