Daily Archives: Nov 4, 2017 at 06:00 am EST

Book Bits | 4 November 2017

The Myth of Millionaire Tax Flight: How Place Still Matters for the Rich
By Cristobal Young
Summary via publisher (Stanford University Press)
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 palpable 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.
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