Some lawmakers in Washington and across state capitols want to raise taxes. Taxes can often drive people to move from one state to another, and sometimes right out of the United States.
Millionaires seem to complain the loudest but the financial hurt spreads beyond the wealthiest earners.
Top ranked boxing great Manny Pacquaio can stand up to almost any hook. Few bunkers can stop legendary golfer Phil Mickelson in his tracks and Comedian Bill Maher has made a career of laughing his way to the bank.
In recent weeks, these multi-millionaires have talked about changing zip codes because of rising state and federal taxes.
"Here in California, I just want to say liberals, you could actually lose me. It's outrageous what we are paying, over 50 percent." Maher said.
Nittin Uppal a taxpayer says its the amount of money they're making. "They are paying too much taxes because they are making that much money. If you are going to make that much money of course you are going to pay."
The effect of millionaires and money can be felt in every state. Larry Hogan with 'Change Maryland' a grassroots group, analyzed what happened in his state after a 'millionaires tax' was created in 2007. "We went from eleven fortune 500 companies headquartered here to two. We lost 6,500 small businesses and 31,000 taxpayers."
"Change Maryland found that higher taxes drove out two-thirds of the millionaires. The rest, belonging to the middle class, all fled for neighboring and less burdensome taxing states.
Hogan says more than $1 billion a year was lost in earnings, creating a financial hole so large that his state has still not recovered. "States that are cutting taxes or holding the line on taxes are actually the state's where you are seeing the most private sector business growth and job growth."
For some, America is no longer an attractive place to work. According to published reports, Manny Pacquaio has fought his last bout in the U.S. because the top marginal tax rate in Singapore is almost half of what it is in Las Vegas. On a $20 million purse, the difference is about $4 million.
