High taxes drain talent

Matt Yglesias points out that because Florida has no income tax NBA superstars might be more inclined to play for Miami than the New York Knicks, because NYC has massive income tax rates. Gee, it’s almost like charging high tax rates — and even higher tax rates on the wealthy — makes the best and brightest (the people/companies who are good enough to have options) not want to live in your state or city and contribute to the economy. It’s almost like high tax rates drive away talent, while low tax rates and extra tax rebates attract businesses (along with their money and jobs). How bizarre! Low taxes stimulate business in your locale? Who would have thought such an odd state of affairs could occur?