Millionaire taxes in a world with few borders -- Do the rich flee high taxes? -- Global billionaires and international tax havens -- Place as a form of capital -- Millionaires and the future of taxation

This paper examines the migration response to a millionaire tax in New Jersey, which raised its income tax rate on top earners by 2.6 percentage points to 8.97 percent, one of the highest tax rates in the country. Drawing on unique state tax micro-data, we estimate the migration response of...

This response discusses the findings and criticisms in Cohen, Lai, and Steindel (CLS). Despite the skeptical tone of their article, the CLS analysis confirms our core conclusion of a small (or very small) migration effect of the millionaire tax. The range of estimates reported by CLS, including...

Is economics a science or a theology? Nelson sensibly argues that economists are a priestly class; they issue authoritative (scientific) blessings upon the marketplace. The bishops of this class are the mathematicians, who convert ideology into science. This essay, in contrast, argues that...