Yes but unless they turn it around you are talking about depreciating assets. The value of any law or vet or dental practice declines the more expensive they are to maintain and the more of them that are being sold. The last one out loses the most. Commercial real-estate is an example, it’s made a little bit of a come-back but the trend is definitely down thanks to internet sales. There are still a lot of vacant store fronts in every city.
I have a dentist in my family. He earned his way in by working for, then partnering with, another dentist. Then he eventually bought his partner out. Now he is at retirement age, he isn’t sure he can set a decent price if he tried to sell. There are a lot of younger professionals of various ethnicities who seem to self-segregate (e.g. Korean people see Korean dentists); and foreign immigrants who have overseas money to help them set up shop; and the people willing to buy a practice worry about their ability to retain the current log of patients so that they can recoup their investment.
Well, I see the point but those particular professionals were only an example to illustrate the point.
Someone who owns a successful small business in a high tax city may sell it to finance starting a new business in a low tax city.
Thus that person escapes tax and spend Democrats in one place and relocates taking his cash, taking his disposable income with him.
The new owner of the old business having gone in to debt to buy the business does not have that lofty disposable income and may never have it thanks to the ever rising taxes in the city that eats the rich.