Topic

Millionaire Migration

The empirical question of whether high-income taxpayers relocate between jurisdictions in response to tax rates, studied mainly through tax return and filer data.

Current clusters

invest1 publisher

New York's millionaire count grew 48% in the five years through its 2021 rate increase

A Fiscal Policy Institute read of IRS data finds the most progressive tax states hold the densest millionaire populations, and the number of millionaires leaving New York fell in the year the state raised its top rate.

Publishers:fortune.com

Reality

Evidence58
Adoption: Insufficient
Hype gap+18
Incentives70
Confidence57