Policy: Budgets & Deficits

CNBC: Do high state taxes chase out millionaires?

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Taxes,Around the Web,newsgatherr,Budgets and Deficits
Media reports are filled with stories of wealthy New Yorkers and pro golfers in California threatening to move to escape high taxes.

Travis Brown, author of "How Money Walks," said there is a "mass exodus" of money from high tax to low tax states. He said New York is losing $7,100 a minute in income to Florida.

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