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by gnicholas
2019 days ago
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The article was ambiguous about what the $34B was a measure of (income of the departing residents or the tax income generated by the income of the departing residents). But the underlying paper makes it clear that it's the former. So it's not accurate to say "US citizens saved $34B...". That was their aggregate income, which is still subject to the same federal taxes no matter where in the US they moved. They would have saved on state and local taxes, depending on the rates of their new home jurisdictions. |
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