California raised taxes on high-income earners in 2012. The higher taxes and a growing economy contributed to the Golden State government’s $21 billion surplus, but the tax windfall was 45% lower than it could have been because people moved and found other ways to reduce their tax bill. People do respond to tax rate changes.
The problem with high tax rates and high earners
October 7, 2019 at 9:02 am
Joseph Coletti / Senior Fellow
Joe Coletti is a senior fellow at the John Locke Foundation focused on fiscal policy issues. He previously headed the North Carolina Government Efficiency and Reform initiativ...
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Terry Stoops, September 30, 2020
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