[AnIdiotOnTheNet]

I'm not convinced that's as true as you think it is. Sure, some people will move, but presumably people have reasons other than the tax rate that they want to live in a place like New York and so, presumably, they will stay as long as they value those things more than lower taxes.

[pyronik19]

I'm sure there is the equivalent of a laffer curve by which intangibles are valued subjectively like that. At some point of government overreach people leave... and they are leaving in droves.