[wjersey]

I wonder what percentage of Florida's population is from NJ?

[ncountylee]

state residency audits

New democrat trend, but 9% swing would have me in Florida.

[mcvey]

Ayn Rand would have loved this. May NJ tax itself into the poorhouse.

McVey

[Libertarian444]

"We seek to establish a paper trail for how you're spending your time," said Michael Bucci, a spokesman for the New York Division of Taxation.

You will pay...or else.

[nj26]

Actually these ex-Goldman officials appointed by Corzine are talking a lot more sense than any other Democrat in recent NJ history.

At least they are acknowledging that the current tax policy is unsustainable. I think Corzine's recent move to boost the sales tax (which obviously is broad-based) may be a step away from the "soak the rich" Socialist nonsense of former Democrat administrations.

After all, all these ex-Goldman officials now running the government... they are all multi-millionaires themselves.

[flushing_kenny]

I live in NYC and these politicians have no clue. Our minimum wage has priced out labor in rural NY state, which is emptying out. Much of the financial industry is slowly heading to NC or other parts. There is growth, but there is starting to be a hallowing out. I already pay top bracket here and am not happy about it at all. Once the work dries up, Ill leave town and leave these socialists to finish turning the place into Detroit.
Of course, NJ just did vote in Gov Goldman Sachs. Will they get smart and change his name to Florio?

[KoRn]

This is en example of why Federal taxes are so undesirable. If a state raises taxes too high, you can simply leave because you have a choice whether or not to stay there. If the Fed taxes are raised too high there's no escape.

[Sometimes A River]

Good.

I hope rich New Jersyeans continue to come to Florida (paradise on earth).

I am in the residential real estate business, and that means more buyers.

[MilesVeritatis]

"The "millionaire's tax" is causing an exodus that it can't afford, some say."

In the words of Nelson Muntz, "Ha-ha!"

[jiggyboy]

California is trying to adopt this policy, Proposition by Proposition. When enough people get wise to that, they'll simply declare a Fiscal Emergency as cover for "temporarily" rescinding Prop 13.

[Lancey Howard]

"And whether we like it or not, these people have other choices."

New Jersey needs to look at what its role models from the past have done. East Germany, for example. Just build a big wall with barbed wire on top and armed sentries. Problem solved.

[Lancey Howard]

It's these taxpayers whom New Jersey may soon scrutinize more closely.

New York has a sophisticated tax-enforcement program that routinely audits former taxpayers who may have only partially moved out of state. The top income tax rate for the state is 6.85 percent, and New York City charges an additional 3.64 percent income tax.

"We seek to establish a paper trail for how you're spending your time," said Michael Bucci, a spokesman for the New York Division of Taxation. "If you claim no one is at your house, then who is making those phone calls? Why is the electric bill so high?"

New York accountants say state residency audits, which they describe as formidable, also demand E-ZPass and credit-card records.

Abelow said he is examining New York's efforts "very closely," with an eye toward stepping up enforcement in New Jersey.

_____________________________________

Good Lord!!
Get OUT of these two toilets, New Jersey and New York, and do not look back.
Run, don't walk.

[mmercier]

You do not need to be rich to flee the garden State, but you have to be pretty stupid to stay there if you are not collecting some form of welfare.

Drug dealers not collecting welfare are excluded from the stupid and rich categories of course.

[Cobra64]

"The "millionaire's tax" is causing an exodus that it can't afford, some say. The wealthiest fund 42 pct. of its budget."

What the heck does this mean? However wrote this is a moron.

[Oschisms]

The treasurer this summer is moving his family from Manhattan to Montclair, where he, too, will pay the millionaire's tax - and the state's notoriously high property taxes.

Am I reading this right? The State Treasurer was elected/appointed without ever living in the state he is treasurer of?

New Jersey is like another planet.

[HostileTerritory]

The treasury's predictions were $500,000 too high - the first sign that the state could indeed be seeing an exodus of its millionaires.

If this tax led to a $1 billion surplus, then $500,000 is a rounding error. Someone got something wrong in this article.

[marblehead17]

ping

[ExGeeEye]

Before-Reading-Gut-Reaction*:

How far?

How about into PA? or MD? or even a whole other part of the country?

*This is always hazardous. I should go read the article now.