In the article The Price of Taxing the Rich, Wall Street Journal columnist Robert Frank discusses the extreme volitility of tax revenues in states relying too heavily on the top 1% of earners for revenue. States such as New York and California have grown more dependent on the taxes paid by top earners in recent years, a trend that the author argues has contributed to their recent budget woes.
Read the entire article here.
Hat Tip: Wills Trusts and Estates Blog
Posted by Isaac Pflaum, Associate Editor, Wealth Strategies Journal
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