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 country’s 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 it’s 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 ...
But I don't think taxes is the only reason people are leaving NY. The cost of doing business is higher there. Not only that, but the regulatory burden and risk is higher there. If you're running a business, you don't want to subject yourself to the lack of due process that the activist NY Attorney General specializes in.
Just don’t vote for the same socialist policies that caused you to have to flee you former home once you get here.
If your place of employment is fleeing the commie fascists in the Northeast...why would you not want to follow?
Don’t assume everyone that flees RAT sewers are RATs. Since RATs vote for RATs, why wouldn’t they want to stay in the sewer their brothers created?
I lived near exit 137 of the GSP. Somebody from Jersey would understand.
Unfortunately they take their liberal politics with them to the new state. They cannot seem to be able to connect the dots.
That’s the truth but the lunkheads prefer to live in the world of myth.
They forget some of those flyover and red states put some real genuises into power.
We should put that on signs on all roads coming into our states...
We have a similar problem here in Florida, with the Puerto Rican influx. And the Puerto Rican governor is trying to get Florida based Puerto Rican refugees into an organized political block.
In New York, you don’t own your home.
You might think you do, but you are really just renting it from the government.
Can’t squeeze mud.
Lib leaders know this is exactly how you can spread liberalism into areas it doesnt exist.
Its not like these people move and change how they vote.
Socialists know that. They count on it.
I’m sitting pretty here in NJ!! I live in a town (where a certain POTUS owns a golf club) that has low property taxes, especially when compared to the towns surrounding it. People trapped in NJ by their business or who don’t want to leave NJ yet are knocking on my door offering to buy my home. We are probably going to take an offer we just received and movemto PA. And yes, I will be bringing my politics with me.
They do not equate the two in their minds.
They will continue to support Dumbass Democrats wherever they go.
They are immune to logic................
That’s the same in every state and nation...................
You’re from Jersey? What exit??
;-)
Because they think they're voting for RATs that will raise taxes on OTHER PEOPLE, not themselves.
"Don't tax him, don't tax me, tax that guy behind the tree!"
But, property tax is a comparative pittance in some states, and as much as a mortgage, taxes and insurance combined in those states, in others. And they’re not all northern liberal states, either and I’m talking about you, Texas.
The one just outside of the Universal Fart. Very refreshing.
Nothing surprising about this... Liberals are all about folks “paying their fair share” (or whatever other cause dejure they are for at the moment) until they find out it affects them and poof they run away.
“I love blacks, gays and latinos, just as long as they don’t move next door.... so love me, love me, love me I’m a liberal.”
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