>My point is that lower rates are the revenue maximizing equilibrium. Don’t abolish it, but lower it such that more wealthy people become residents which is good for everyone because it increases tax revenue for services.

Right and I'm saying the net effect is ambiguous. It's not clear that the equilibrium lower taxes. For all we know they could very well afford to increase certain taxes and increase net revenues even if some number of people relocate. Since wealthy people want to live here to some extent they are a captive audience.