Taxing the Rich Never Pays
There are three unintended consequences from states raising tax rates on the rich. First, some rich residents sell their homes and leave the state; second, those who stay in the state report less taxable income on their tax returns; and third, some rich people choose not to locate in a high-tax state. Since many rich people also tend to be successful business owners, jobs leave with them or they never arrive in the first place. This is why high income-tax states have such a tough time creating net new jobs for low-income residents and college graduates.
Whether you like it or not, when the rich make money, jobs are created and more taxes are paid. it has been proven again and again. Class warfare and taxing the rich will only lead to less job creation and less tax revenue. Unfortunately, the left does not understand this principal and will continue to try to lead us to ruin.