I've commented on this before, but it's worth repeating. Millionaires, despite all their bluster and threats to move when taxes are raised, simply don't move. It's empty threats. If income tax rates are raised on millionaires, they actually stay put. This means it is indeed possible to improve state government finances by using a very … Continue reading Millionaires Don’t Move to Avoid Taxes – Empty Threats
A casual reader/listener of many economics blogs, news stories, cable shows, and political speeches (in other words, the usual sources), would be forgiven for thinking that "inflation" is some awful comic-book super-villain that constantly threatens society. It's as if they think that any momentary lapse in vigilance that allows perhaps a declining unemployment rate will … Continue reading Just What Is Inflation? Is A Monster Just Around The Corner?