Madam Speaker, the member for Central Okanagan—Similkameen—Nicola appealed for evidence-based policy and raised the concern that the rich might just leave in response to slightly higher income tax rates at the top end. Yet he presented no empirical evidence on this problem.
Luckily, a couple of weeks ago, Stanford University published a study entitled, “Millionaire Migration and the Taxation of the Elite”, which studied exactly that question south of the border. What it found was that millionaire migration is not an issue and that, in fact, the rate of interstate migration among millionaires was lower than it was among the general population.
I wonder if the member for Central Okanagan—Similkameen—Nicola could bring some actual evidence to bear on this question.