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What You Should Know / August 25, 2011

www.ctj.org -- That’s what makes last week’s Journal editorial so amusing. It’s been a little over two years since the Journal first popularized the Maryland millionaire migration myth with a 2009 piece titled “Millionaires Go Missing.” Apparently, members of the Journal’s editorial board have short memories, because they’ve recycled that same title, but used it to argue the opposite point (and the one ITEP insisted was the case all along): new federal tax data shows that the recession caused a huge decline in the number of millionaires all across the country. “Told you so” just doesn’t seem sufficient.

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