Is 'millionaire migration' really a thing? Lessons from states that already tax the rich

Washington state just passed a tax on incomes above one million dollars a year. The so-called “millionaires tax” has critics warning we’re about to see an exodus of Washington’s wealthiest residents. So we wanted to know whether “millionaire migration” is really a thing. Today, what states that already have millionaire taxes can tell us about what to expect here in Washington. GUEST: Cristobal Young, Associate Professor in the Department of Sociology at Cornell University Coming up: Are you house hunting as a first-time home buyer? We'd love to hear from you about how it's going. Give us a call at (206) 221-7158 and leave a voicemail. You can also email us at booming@kuow.org. Thank you to the supporters of KUOW, you help make this show possible! If you want to help out, go to kuow.org/donate/boomingnotes. Booming is a production of KUOW in Seattle, a proud member of the NPR Network. Our editor is Carol Smith. Our producers are Lucy Soucek and Alec Cowan. Our hosts are Joshua McNichols and Monica Nickelsburg. Support the show: https://kuow.org/donate See omnystudio.com/listener for privacy information.