Connecticut, Rhode Island, Maryland ... one by one we will go through the states and catalogue the brain-dead politicians who believe that raising taxes will be the solution to all of their budget woes. This time let's focus on New York. In 2009, New York implemented a "temporary" personal income tax surcharge on the evil, disgusting, putrid, stinkin', nasty rich (those people earning more than $200,000 a year). It was dubbed the "millionaire's tax." They used the term "millionaire's tax" because it appealed so hugely to wealth envy. The truth is that 76% of the people who pay the surcharge aren't millionaires. Remembering the Obama mantra of "never let a good crisis go to waste" and so they managed to get this surcharge implemented. So now that the "crisis" is over, here come the advocacy groups: We can't let this millionaires tax expire! Well if you want to keep high earners in the state of New York, you'd better think again ... otherwise there will be no producers left for you to tax. This study from the Partnership for New York City.

Between 1998 and 2008, a net total of more than 1.7 million New Yorkers chose to relocate, taking with them their wealth and talent. More income has left New York than any other state in the nation -- $71.7 billion from 1993 to 2008. For every dollar that migrated into New York from other states during that period, $1.71 left -- the highest of any state ... A significant portion of the relocation from New York was to Florida and Texas, two states with no state or local income taxes, a very low cost of living, and a reasonable and predictable regulatory environment in which to conduct business.

Since the imposition of New York's surcharge in 2009, there has been a 9.4% decrease in the state's taxpayers who earn $1 million or more, decreasing from 381,786 in 2007 to 345,892 in 2009. At the top of the revenue generators are 1,406 resident taxpayers who have incomes over $10 million and are assessed a surcharge equal to, on average, almost $742,000 a year. If just 10% or 140 of these taxpayers were to leave the state, New York would see an estimated loss of up to $452 million in total personal income tax revenues.

What's the excuse this time ... fairness?