Socons and TPers are fond of regurgitating that high taxes send people fleeing from states like NY or NJ.

#NJ: ranked 2d for percentage of households worth $1m or more, destroying meme that high taxes send rich packing http://t.co/QJYOB1ayPK

— lawhawk (@lawhawk) January 16, 2014

Well, turns out the facts tell a different tale. NJ continues minting millionaires at a steady clip. That North Dakota is minting millionaires at a faster clip this year is a testament to that state’s oil boom, and not something sustainable.

Also ignored is that the states where people have moved from tend to be cold weather climates like the Northeast to warmer climates like the South and Southwest, though states like Nevada saw a decline in the number of millionaires (despite being a no-income tax state). Florida, another no-income tax state, also lost millionaires.

The state with the fewest millionaires is Mississippi, with 3.6 percent, or 40,955 households, wealthy enough to join the elite circle.