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Books > Social sciences > Sociology, social studies > Social groups & communities > Social classes
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The Myth of Millionaire Tax Flight - How Place Still Matters for the Rich (Paperback)
Loot Price: R525
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The Myth of Millionaire Tax Flight - How Place Still Matters for the Rich (Paperback)
Series: Studies in Social Inequality
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List price R581
Loot Price R525
Discovery Miles 5 250
You Save R56 (10%)
Expected to ship within 12 - 17 working days
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Donate to Against Period Poverty
Total price: R545
Discovery Miles: 5 450
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In this age of globalization, many countries and U.S. states are
worried about the tax flight of the rich. As income inequality
grows and U.S. states consider raising taxes on their wealthiest
residents, there is a very real concern that these high rollers
will board their private jets and fly away, taking their wealth
with them. Many assume that the importance of location to a
person's success is at an all-time low. Cristobal Young, however,
makes the surprising argument that location is very important to
the world's richest people. Frequently, he says, place has a great
deal to do with how they make their millions. In The Myth of
Millionaire Tax Flight, Young examines a trove of data on
millionaires and billionaires-confidential tax returns, Forbes
lists, and census records-and distills down surprising insights.
While economic elites have the resources and capacity to flee
high-tax places, their actual migration is surprisingly limited.
For the rich, ongoing economic potential is tied to the place where
they become successful-often where they are powerful insiders-and
that success ultimately diminishes both the incentive and desire to
migrate. This important book debunks a powerful idea that has
driven fiscal policy for years, and in doing so it clears the way
for a new era. Millionaire taxes, Young argues, could give states
the funds to pay for infrastructure, entitlements, and other social
programs to attract a group of people who are much more mobile-the
younger generation.
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