New York State is raising income taxes on the super-wealthy from 6.85% to 8.82%.
While I’m in favor of doing this at the national level, this will ultimately be bad for New York State, because it’s pretty easy for people earning more than $2 million per year to move to Connecticut or New Jersey (but it’s not very easy at all for people to move to another country).
But the tax increase is probably not high enough to cause a massive Atlas Shrugged event.
I also predict that, while some super-wealthy will vote with their feet, hardly any will change how they vote in the voting booth. This tax won't turn any wealthy Democrats into Republicans.