Posted on 02/25/2019 9:00:51 AM PST by SeekAndFind
“This is the flip side (of) tax the rich, tax the rich, tax the rich. The rich leave, and now what do you do?” — Andrew M. Cuomo, N.Y. governor (2/4/19)
After the Trump tax cut went into effect one year ago. we predicted that the Trump tax reform would supercharge the national economy but could cause big financial problems for the five highest-tax states: California, Connecticut, Illinois, New Jersey and New York.
The capping of the state and local tax deduction at $10,000 raised the highest effective state tax rates by about 66 percent (for example, in New York City and California, the rate on millionaires rose from about 8 percent to 13.3 percent). In New Jersey, the highest rate has risen from 7.5 percent to 12.75 percent. Now, we have Mr. Cuomo conceding that the trend of rich people moving out of New York has caused the loss of $2.3 billion of tax revenue in Albany’s coffers. Mr. Cuomo called this tax change “diabolical.” We think it was a matter of tax fairness. No longer do residents of low tax states have to pay higher federal taxes to support the blob of excessive state/local spending and pensions in the blue states.
As we predicted, the wealthy are fleeing these five states. The new United Van Lines data were just released that are a good proxy for where Americans are moving to and from. Guess what four states had the highest percentage of leavers in 2018: 1) New Jersey, 2) Illinois, 3) Connecticut and 4) New York. Even California again also had more Americans pack up and leave than enter.
(Excerpt) Read more at washingtontimes.com ...
I escaped from Illinois to Indiana 6 years ago.
Yeah, guess what happened when non-citizens don’t answer the census.
He’s waaaay down by Bloomington, so I guess the state is big enough for both of us!
Don't consider Oklahoma ever!!
Ticks the size of mice....
Skeeters the size of sparrows.
Hotter than Marfa, TX in the summer...
Colder than Hillary's heart in the winter.
F-10 tornado's in the spring...
And cow farts everywhere....
Don't move to OK...
The Supreme Court will decide for the citizen question in April and the result will lead to MASSIVE redistricting and the disappearance of multiple districts in blue states.
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Only to the extent that many of the TENS OF MILLIONS of illegal aliens “duck and dodge” and avoid being counted by census enumerators. Sadly, those that the census actually count will count toward the determination of congressional representation.
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American S#itholes - bump for later....
Of those leaving for more favorable tax rates, their size as a group will be spread out and absorbed. There simply will not be enough migration to shift the current voting majority.
As others have pointed out, it is more likely they will gradually influence local policies as they vote for the former programs (handouts and deductions) they were dependant upon.
The greater impact may be those who are stuck and can not flee. It is more likely that they will vote for lower taxes now that they are exposed to their fair share of the tax burden.
Far as California goes this is complete BS there’s always more people wanting to come here to the Bay Area dinner leaving at any given time occupancy rates and apartments or a new order of .01%
Myself and my three brothers all left after going to SUNY colleges in the 1980’s.
Almost everyone I grew up with in my neighborhood left. Of the several dozen kids, we all left to find opportunities elsewhere. I grew up in Orchard Park, NY one of the nicest suburbs of Buffalo. Almost all the middle class and upper middle class kids I grew up with left after high school or college.
There were no jobs there unless you worked for the government, the Ford stamping plant or a bank. I only know of two friends from my neighborhood that stayed. One owns a landscaping business. The other one got one of those coveted union jobs. Everybody else bailed.
That is one way.
The more direct way is to ban our non flammable refrigerants.
Then we can use flammable refrigerants - and go up in smoke like Grendel towers in London.
Good unless they bring their liberal voting habits with them and try to make the new state as bad as the old.
A billion here and a billion there it will soon add up to real money, LOL.
Tomorrow, Connecticut has 5 special elections, so I hope the voters will elect Republicans to fight the tolls and higher taxes...
They don’t.
New Yorkers bring their crappy ideas and attitudes with em to Florida as do those coming here from Jersey.
Ask long time folks in IDaho or Montana what they think of all those from Calif, Oregon and Washington? Not much.
Here’s how bad it is: Pols are talking Upstatehood in addition to taxpayers. And nobody’s laughing.
States are now horsemen!
OKay, you can stay. You’re one of the good ones. :)
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