New Jersey has figured out to get rid of the rich. They tax them. It’s called the “Millionaire’s Tax”. The New Jersey Democrats want to raise it even further. Ya’ know, because it’s working so well, bringing in tax dollars.
“Prior to the millionaire’s tax, more wealth was coming into the state than was leaving. Over a four-year period the aggregate net worth increased by $98 billion,” the study states. “However, the 2004-2008 post-millionaire’s-tax period shows more wealth leaving the state than coming in. The net outflow during this period reversed 70 percent of the wealth gained in the prior four years.”
Here’s the link. What they will have when they get done will be only the people who cannot afford to leave. Kinda like Detroit.