Nicholas Confessore. New York Times. March 18, 2009.
“Taxes Not Seen as Making the Rich Flee New York” explains that the taxes in New York, New York are relatively high, but rich people continue to flock there. Other incentives for the rich to live in relatively high tax areas include good public schools (which could be boosted by higher taxes), a thriving arts scene, or familial and community ties.
The article also features a quote from a conservative policy wonk who, while opposing raising taxes on the rich, agrees they won’t flee the state. "I kind of clench my teeth every time Paterson says people will leave. It is the selling point. It’s also a dumb point. Nobody says your wealthy enclaves will shrink dramatically. What they say is that your economy will suffer."- Edmund J. McMahon, director of the Empire Center for New York State Policy.