Cross-posted from: https://lemmy.dbzer0.com/post/34117495

[OC]

Original still created by @gedogfx (IG). Title source: “Inkl”

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  • Dragon@lemmy.ml
    1·
    2 days ago

    As for the Capital flight, that is a myth

    I’m not sure it’s even negligible between countries, but I am specifically talking about capital flight between US states, where there is a very low barrier to exit. Do you have any reason to believe that isn’t a phenomenon?

    • orrk@lemmy.world
      1·
      12 hours ago

      even less so,

      "According to Young, though, the ultra-wealthy traditionally haven’t migrated in droves following such tax hikes. Only %2.4 of U.S.-based millionaires move across state lines each year, roughly %15 of whom apparently do so for tax reasons. ‘So it’s like a small l fraction of a small fraction,’ Young said.

      https://sociology.cornell.edu/news/final-reading-flight-myth