Millionaire-Tax Refugees Will Be Heading South Soon

A progressive rallying cry to tax the rich is being welcomed by traditionally Republican states, including Florida and Georgia, looking for a new pitch to draw migrants — especially wealthy migrants — from the coasts.

Many Southern economies have struggled over the past few years as pandemic-era housing inflation eroded their appeal for young professionals and families seeking a lower cost of living. Now, proposals and legislation to raise taxes on millionaires in a number of Democratic states are becoming the best advertisement — thank you, Larry Page and Sergey Brin — for the wealthy to reconsider these low-tax destinations, where policymakers are debating further reductions.