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A Thought on 'Taxing the Rich'

"The empirical evidence is that in the United States and other countries, the way to get the “rich” people to pay more is to keep rates low enough for them to voluntarily work, save and invest rather than put their smarts and energy into avoiding confiscatory taxes. You can bet that increasingly, rich Californians and New Yorkers are going to move their legal residences to low-tax states such as Texas, and some even to foreign countries."

~ Richard Rahn, Senior Fellow, Cato Institute

HT His Column in Today's Washington Times


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