If taxes rise, will they leave? Cristobal Young presented his findings from the first-ever large-scale study of migration of the world’s richest individuals, drawing on special access to over 45 million US tax returns, together with Forbes rich lists. He showed that contrary to popular opinion, although the rich have the resources and capacity to flee high-tax places, their actual migration is surprisingly limited. Place still matters, even in today’s globalised world.
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The Myth of Millionaire Tax Flight: how place still matters for the rich