The most recent census found that Rhode Island’s population grew over the past decade[1]. So too have the number of wealthy taxpayers, according to information taken directly from federal tax returns[2].
Despite these facts, a report released today marks yet another attempt to lay the groundwork for more tax cuts for wealthy Rhode Islanders – based on the unproven but undying myth that these taxpayers are “fleeing” for low tax states – in particular, states with no estate tax.
“Leaving Rhode Island” tries – and fails – to show that the estate tax is the most significant driver of out-migration. Yet, absolutely nothing in the report supports this claim and notably, the report does not provide information about the migration patterns of upperincome Rhode Islanders.