Maryland just learned the hard way how the laws of economics really work. To close a budget shortfall, they upped the tax rate on millionaires. The politicians and the Baltimore Sun all thought they would pay it. Some did, but fully 1/3 of the millionaires living in the state simply left and tax revenues were down despite the rate increase. (online.wsj.com/article/SB124329282377252471.html). Moral: Producing people are not piggybanks for politicians' spending plans - they can and do move. See Detroit, Sweden, etc., etc.
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