‘Sometimes When You Tax the Rich, You Lose the Rich’: Americans Move Out of High-Tax States

Advocates of blue-state taxes on millionaires and billionaires say they’re targeting the wealthy, but experts say the taxes will expand to hit more Americans.

A U-Haul van in New York City. Chung I Ho/The Epoch Times

Companies, jobs, and families are moving out of blue states that are raising taxes to fund an expanding array of social programs.

On March 30, Washington state enacted a 9.9 percent “millionaire’s” income tax, transitioning it from a no-income-tax state that had attracted companies such as Amazon, Microsoft, Costco, Boeing, and Starbucks to one of the 10 states and districts with the highest income tax rates, along with California, the District of Columbia, Hawaii, New York, New Jersey, Oregon, Massachusetts, Minnesota, Vermont, and Wisconsin.