Are High Taxes the Real Reason Why Wealthy People Move?
Despite several reports that many of the wealthiest people in America are fleeing to other more tax-friendly states, a new report suggests that might not be the case. Of course, there have been some recent cases where these exact circumstances have occurred so there is precedence in this matter. However, it appears that not nearly as many wealthy are moving, as it seems, at least not just to escape those taxes.
That’s because a new study shows that in actuality most wealthy individuals don’t move from one state to another simply because of high taxes. According to the study, which was based on tax data collected over 13 years and reported in the American Sociological Review, wealthy taxpayers do move because of taxes, but those moves account for only 2.2 percent of the total.
The study also showed that those moves don’t greatly affect the state being left behind. What’s more, the study indicated that if a state decides to raise taxes by 10 percent on the top earners it only risks losing 1 percent of its millionaires. The reasons millionaires aren’t leaving for greener pastures with lower taxes are essentially the same reasons that most people don’t move. They have jobs, own companies and/or they’re married and have kids, all of which makes moving more difficult.
So, it turns out that although some millionaires are fleeing to other states with lower taxes, in reality most of them are just simply like everyone else when it comes to moving. It’s always easier to just stay where you are.
http://www.bloomberg.com/news/articles/2016-05-26/higher-taxes-don-t-scare-millionaires-into-fleeing-their-homes-after-all
Safety and Health Programs: Can you make your company safer?
Safety and Health Programs: Can you make your company safer? No one wants an unsafe work environment. But unsafe or hazardous spots in your environment must first be reported before they can be corrected. That takes cooperation from all employees, including those reluctant to blow the whistle. In 2004, more than 6 million work-related illnesses…
Employee Hiring Decisions
Employee Hiring Decisions Making Better Hiring Decisions One of the most powerful ways a company can improve its profitability is to attract and retain quality employees. In the “Simple Tools to Help Make Better Hiring Decisions” session of The Work Truck Show, consultant Fred Yetka offered guaranteed ways to reduce turnover — and the wasted…
No Longer Just Black and White
No Longer Just Black and White By Myron Curry President of BusinessTrainingMedia.com Diversity in the workplace used to hinge upon the level of responsibility, pay, and respect that one could receive based upon the color of skin and ethnicity. But, these days, diversity in the workplace has become much more than that. Most CEO’s and…
Four Key Diversity Recruitment & Retention Strategies
Four Key Diversity Recruitment & Retention Strategies From BusinessTrainingMedia.com Workforce Article Library 1) Recruitment and retention strategy. Most employers find that it is generally easier to recruit people than it is to retain them. Unless organizations create a climate that welcomes and is hospitable to those who are in some way different from the existing…