'The four states of the apocalypse': These states have the highest percentage of leavers

Washington Times ^ | 02/25/2019 | Stephen Moore and Art Laffer

[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.

[Starcitizen]

H1B foriegn trash, more than likely. Paid by formerly American companies that refuse to hire Americans

[kearnyirish2]

NJ also has a lot of people looking to move in - from Latin America and Asia. The exodus from these states is primarily white taxpayers; it has become impossible to make a living there as many were replaced with foreign workers (who suppressed wages while taxes rose), and the death spiral steepens as more and more foreigners move in with empty pockets and empty stomachs.

Eventually it comes full circle as new businesses avoid these sh!tholes due to massive taxes and lack of a skilled workforce (instead they face masses of outstretched palms); these states are suffering a brain drain from which it would be difficult to recover.

[GodAndCountryFirst]

The red states would be much better off if the leaching blue states would just leave the union. We’re not SICK of subsidizing those communists and layabouts.