Posted on 05/04/2018 11:01:48 AM PDT by Brilliant
That headline arrives via email from a money manager in northern New Jersey. The Garden State already has the third largest overall tax burden and the countrys highest property tax collections per capita. Now that federal reform has limited the deduction for state and local taxes, the price of government is surging again among high-income earners in New Jersey and other blue states. Taxpayers are searching for the exits.
In the financial industry of course its not just the clients who are looking for greener pastures. One hedge fund manager moving his office to a southern state reports that his new home on a golf course will be more than double the size of his house in Chatham, N.J. while generating just one third of the current property tax bill...
The apartment market in New Jersey is booming because nobody wants to own here. As soon as people are not tied to the area for business reasons, they leave, says Jeffrey Sica, founder of Circle Squared, an alternative investments firm. We structure real estate deals for family offices and high-net-worth individuals and at a record pace those family offices and individuals are leaving the TriState for lower-tax states. Probably a dozen this year at least, he writes...
Arthur Laffer and Stephen Moore wrote...:
In the years to come, millions of people, thousands of businesses, and tens of billions of dollars of net income will flee high-tax blue states for low-tax red states.
Just one week later, the Journal reports:
One of the oldest names on Wall Street is moving to one of the fastest-growing cities in the South, reinforcing a recent shift in finance jobs to cheaper parts of the U.S.
AllianceBernstein Holding LP plans to relocate its headquarters, chief executive and most of its New York staff to Nashville...
(Excerpt) Read more at wsj.com ...
The effect of NJers fleeing the hellhole they created is the same effect as stomping on a grease fire - splattering the greasy flames everywhere it lands.
They will hopefully stay ‘close by’, in other blue states that aren’t as tax heavy.................
Good. I hope these blue state types take a huge bath on their property values. These idiots deserve what they vote for.
Plus the Rats are mostly made up of minorities nowadays
And they ain’t the ones that are fleein’
please go east or really far west.
Good, maybe if all the rich lefties from North Jersey flee we can finally have a chance to turn this turd around. Probably too late to save the patient, of course, after decades of reckless spending on public service unions, but maybe at least keep it from crashing hard all at once.
If ur a Demorat stay the hell out!
Conversely, if I lived in a low tax red state that was the final destination of these migrants, I wouldnt be so quick to believe they are converts to the conservative cause.
More than likely, they will remain at least socially blue, which inevitably causes, at least through indirect indoctrination in the family and schools, economic blue policies to surface and dominate. So I wouldnt be so happy to learn about such a mass exodus if I lived in one of the popular destinations.
Like sludge, leftist ideology tends to overcome and cover over the conservative fiscal policies that make such states attractive in the first place. So good luck to such unwitting hosts; your state probably will resemble NJ/NY in a couple decades.
It’s interesting. We’ve learned that the Blue State wealth was built on federal subsidies to the Blue States all along.
LOL!
Used to live near Exit 82 of the Garden State Parkway.
Left NJ for good in May, 2006, so I could avoid the rush.
Exactly right. Look what the carpetbaggers have done to Florida, North Carolina, South Carolina and now moving into my home state of Tennessee. We’ve gone from deep red to purple headed towards blue.
and the leftards bring their liberal crap that brought destruction to their own cities and states. Each red state should have a questionnaire ready “are you a liberal?” before residency in the red state...
Beat you, left in 75.
I recall my uncle, a ww2 vet, saying at the time he left in 95, “ I don’t even want to be buried in that state”.
There was a time when both New Jersey and Connecticut did not have a state income tax. I think the term making a mountain out of a molehill refers to when a Democrat governor institutes a state’s first income tax which builds through succeeding Dem administrations into a mountain of taxes. (and, no, Weicker was not a Republican when he was governor of Connecticut instituting the state income tax. He formed his own state party and he was very much a liberal Democrat in heart and spirit)
I live in a small town in Alabama which is located north of Tuscaloosa.
One of my neighbors just sold her home. I learned yesterday, from another neighbor, that the buyers were from Washington State.
Ill admit, the first words that came out of my mouth was Oh no, please dont let them be from Seattle!! Im hoping theyre from Eastern Washington because Eastern Washington is more conservative.
If they are from the Seattle area, maybe they are some of the normal people who are fleeing the madness of the Seattle communist government. If so, they are more than welcome.
I cant figure out why they are moving to my town. Dont get me wrong, my town is nice, but I would expect them to be more interested in Gulf Shores, Orange Beach, Dauphin Island, Fort Rucker, etc.
That’s exactly correct.
Burn them all down.
It is a shame—because NJ is one of the most beautiful states in America.
People only know it from the Turnpike.
But decades of Dems and RINOS ruined it.
Things there have reached critical mass, and people are voting with their feet.
Unless they are from Spokane which is, paradoxically, a leftist hellhole.
I had one of my pups at the Vet yesterday and talked to two people that moved here recently to escape a liberal state. One was from San Diego CA and the other one was from Washington state. Both let me know right away that they were Trump supporters. They said they LOVE Tennessee and that even though their states are beautiful that they are turning into communist states. The lady from WA said that even her garbage can get her fined. She said her garbage bill was $48 a month and that if the garbage company thinks you are making too much trash, or not recycling what is REQUIRED to be recycled, that they could be fined or worse. They both said that if you are conservative in those states, and especially a Trump supporter, and libs find out about it that you will be physically hurt.
Both said they love the culture in the South. The woman said that the only thing she’s not used to is the racism. I said “racism”? She said that she went to a Krystal burger place and it was full of blacks. She said the hate coming off of them was scary. I said “oh, you mean reverse racism”? She said yes. She said the whites in the South aren’t even close to being as racist as the blacks are. I knew that. I tried to explain that the blacks here that are educated and have jobs weren’t like that so much but her encounter was in a really bad part of Chattanooga.
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