High Taxes Have Consequences
Republicans are now debating renewing tax cuts. Reminds me of when I interviewed Donald Trump 15 years ago, after dumb New York pols raised taxes on the rich.
Trump practically shouted, “The rich people are going to leave, and other people are going to leave!” “You haven’t left,” I say. “I haven’t left yet,” he answers.
Of course, now Trump has left New York. And lots of big taxpaying people left states like New York and California. This John Stossel “Classic” from 2010 examines the consequences of high taxes.
