Wednesday, December 15, 2010

Wealth Flight

I came across an article from earlier in the year that details the wealth flight from New Jersey. New Jersey chose to fund its coffers by taxing its wealthy residents and so those residents started leaving the state. This is a good example of what can happen on a grander scale in the United States. Or perhaps instead of Americans leaving, since it takes a lot more commitment to leave one's homeland than simply crossing state lines, wealthy foreigners avoid immigrating here.

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