A spoken commentary arguing that modest increases to top marginal tax rates would be small relative to historical peaks and that relocating to avoid such tax increases is often impractical for most wealthy people due to the financial and logistical costs involved.
What's important to understand is that when we talk about raising taxes on the wealthy, we are talking about raising the marginal tax rate, the highest tax rate, a slight amount which won't even bring it back to its peak numbers. Do you understand that we are at historically low taxes for wealthy people? Most people don't even know that fleeing when taxes go up sounds like it can make all the sense in the world. But for the wealthy, the math is not the same as it would be for someone packing up their middle class house and literally driving a U haul to a different state. A million dollars in expenses to sell a house, to move, to purchase a new place or more. That's a lot of money for a move just to combat a marginal increase on taxes.
