MillionairesTax

In the political battle over taxes, Warren Buffett has been cited often -- both as an example of the country's unbalanced tax code and for his popular plan to boost taxes on the rich. There's just one thing: His plan would leave many of them paying less.

As state income tax revenues creep downward, rates are slowly headed the other way: upward. As fewer taxpayers pay in (due largely in part to heavy unemployment rolls and lower incomes), states are grasping at other sources of revenue. At the top of their lists? Millionaires. As of the end of last...