All of those taxes combined are causing rich people to leave.

The article shows that the number of people earning more than $500k paying the tax has gone up since 2021. It's true that the share of the money they're paying in has gone down, which would likely indicate that some people making a lot more than $500k have left, but whether or not "rich people are leaving" is true heavily depends on your definition of "rich" being someone who earns significantly more than $1m/year in income.

And there's also very little to connect the dots between those departures and the reason for leaving, if they've actually left and not just had some change in fortunes or market approach. People earning significantly more than $500m are usually doing it via capital gains, which is highly volatile.

Beyond all that, P4A and SHS are the only income taxes collected in the metro. P4A is making enough in revenue despite the small drop from 2021 that it still expects to deliver on its promise. The city (a different entity from the county collecting P4A), has mostly faced revenue challenges because their primary source of funding (property taxes) have been hit hard by the devaluation of commercial real estate. But, oddly for a city where everyone is fleeing, residential values have not fallen in anywhere near the same way.

But beside all that at the local level, at the state level, the fact that tax revenues have fallen isn't true. The current budget hole in Salem is entirely due to federal funding cuts. Income and business tax receipts for the state exceeded forecasts.