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Metropolitan DC Local Politics
Reply to "Abigail Spanberger "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think that she doesn’t understand basic economics. Raising taxes doesn’t work - it just causes wealthy people to move to a lower tax state. See California population outflows…[/quote] False https://www.forbes.com/sites/teresaghilarducci/2025/12/29/do-wealth-taxes-really-make-billionaires-leave/ “Cristobal Young and Charles Varner’s work using New Jersey and California tax data finds near-zero long-run migration elasticities among millionaires. Even after sizable tax increases, the number who leave is small, and the revenue gained from those who stay exceeds the revenue lost from movers.” [/quote] VA raising taxes could cause folks to move to DC or Maryland (if that’s where they’d rather be), as VA would no longer be the low-tax option in the DMV.[/quote]
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