Stop me if you’ve heard it before: Jeff Bezos leaves Washington state for a “billionaire bunker” in Florida. Fellow Washingtonian Howard Schultz moves from Seattle to Miami as the state advanced a 9.9% tax on income over $1 million. Add in Google cofounders Larry Page and Sergey Brin, plus Mark Zuckerberg, Peter Thiel and Larry Ellison all leaving California, and you have a pretty good hypothesis: raise taxes on the wealthy, and the wealthy leave.
New IRS data suggests otherwise.
