Travel not so taxing for US millionaires

There is no evidence to support the myth that millionaires migrate to avoid tax changes, according to a joint study by Stanford and Princeton Universities.

The research showed personal connections and business contacts are more highly valued than tax conditions by affluent people trying to decide where to live.

The study unpacked tax records for California from 1992 to 2009 and found migration of millionaires in and out of the state had almost no relationship with tax rate fluctuations.

Read more at Princeton University and Stanford University