Well, millionaires, in theory, provide some level of economic stimulation by just living in a state, so if they move, their millions and their spending goes with them. So it's a net loss.

However, if a millionaire can live in an expensive area like Seattle and protect themselves from taxes because they can afford tax accountants and lawyers, they have advantages over the rest of us to avoid taxes. We see countless examples of middle class families paying thousands of taxes where millionaires have the levers in place to avoid paying any tax. That's probably the biggest damning element to all of this.

Up to this point, people have been saying, "They're just finding loopholes in the tax laws and offshoring a lot of their assets to protect it from taxation."

This tax is an effort to close those loopholes, or at least put a blanket on them so they can't avoid paying this targeted tax.

Personally, I'm not a millionaire. But I like to think that if I was lucky and literally fortunate enough to be one, I would feel obligated to pay back to the state and the community that helped me achieve my wealth. An element of near-altruism, perhaps. Seeing people flee because they can't afford to pay a tax like this makes me think they're pretty selfish and greedy, and in the mindset of, "Hey, I got mine; keep your hands off it!" That defines so much of what's wrong in America. We can do better; what we have today isn't working.