Conservatives have long predicted that California’s high top marginal tax on incomes was causing rich “job creators” to leave the state. The new study that Steve Breen (staff editorial cartoonists for my local paper, the San Diego Union-Tribune) is referring to, that was published in Monday’s edition of the paper, showed that actually there was a significant INCREASE in the number of wealthy people coming into the state (and bringing their jobs with them), which belies the Reagan “supply side” “trickle-dwon” myth that high top marginal income tax rates discourage job creation.
Conservatives have long predicted that California’s high top marginal tax on incomes was causing rich “job creators” to leave the state. The new study that Steve Breen (staff editorial cartoonists for my local paper, the San Diego Union-Tribune) is referring to, that was published in Monday’s edition of the paper, showed that actually there was a significant INCREASE in the number of wealthy people coming into the state (and bringing their jobs with them), which belies the Reagan “supply side” “trickle-dwon” myth that high top marginal income tax rates discourage job creation.