Posted on 02/12/2006 10:29:12 PM PST by george76
From 2000 through 2004, a net 1.3 million people moved out of states with taxes on ordinary income and into those without such taxes...
Quietly, without banners or raised fists, they are packing up their families and belongings and moving from high-tax states like California and New York to lower-tax locales like Florida, Nevada and Texas.
While climate clearly has played a role in the moves --
fed up with giving an ever-growing share of their riches to the state tax man.
Many are upset at moves by New York, New Jersey and a number of other states to squeeze ever larger revenues from estate taxes.
Florida not only has no income tax, it also has no estate tax and shields assets tied up in a residence from creditors.
California residents, who pay one of the highest income-tax rates in the nation -- 9.3% -- are hopping across the border to Nevada, the region's biggest tax haven, with no income or estate taxes.
In all, California suffered a 693,730 net decline in its population so far this decade, despite a burgeoning immigrant population.
The federal government's alternative minimum tax is perhaps causing the most angst.
Originally created for the super rich in the 1960s, the AMT is whacking more and more middle-income earners.
"The AMT can be so bad that I have actually recommended that some of my clients move to avoid it," ...
Consider sales taxes.
In Alaska, Delaware, Montana, New Hampshire and Oregon, the tax stands at 0%, while California charges 7.25% and Mississippi, Rhode Island and Tennessee each charges 7%.
The amount states are adding to fuel costs also ranges widely, from 19 cents a gallon of gasoline in Arizona, to 36 cents in Illinois, to almost 46 cents in New York.
(Excerpt) Read more at online.barrons.com ...
More than made up for with all the ILLEGAL immigrants from Mexico and al Qaeda.
Producers move out, and freeloaders move in.
The scary part is when they use their electoral clout to take money out of low tax states to fund their welfare states. It will happen eventually.
Al-Qaeda?
I can read just as well as you, and I have seen the reports of Middle Eastern men crossing the border with the Mexicans...
In South Carolina, back-and-forth movers even have a name: halfbacks.
"It's for people who were originally up North, moved to Florida and then ended up around here,"...
PA is growing steadily as people from NJ look at their property tax bills and even though PA is higher than normal, compared to NJ it is a bargain.
Is this accurate ?
I find that map a bit suspicious. Few people would want to leave Colorado for Wyoming just for tax reasons.
I couldn't agree more. Here in Arizona the damn lefty californians are coming here and shifting the electoral scene dramatically. I'm looking at going back to New Hampshire... NO state sales tax and NO state income tax.
We are approaching 70 and on fixed retirement income. The tax situation in various states, next to climate, has been the single biggest influence in our decision, up to this point to remain in Florida. We would like to move west to be nearer family. Texas has the only tax structure we can accept. Taos and a few other places would be great but we refuse to pay taxes on our retirement income and food. And so it goes with most other states, some of whose tax policies are confiscatory.
There are 5 states with no income tax most have climates or political orientations that are unacceptable to us.
It seems to be the height of folly regarding state government fiscal policy, to not realize the demographic changes which are taking place in the population. The boomers are retiring. Most will have disposable income as do most of the older folks around here. I haven't looked at the figures but I believe I heard that retirees represent the wealthiest demographic.
A wise state administration would do well to adjust the income tax structure to attract the aging among us. The state would be better off in the long run.
You've hit on the two of the reasons we won't relocate to Arizona. One other is that housing and food prices are being 'Californicated.'
Barrons will not allow entry beyond the advert at the entry to the website....sucks.
An added aspect of the nightmare... consider the racial/economic makeup of this shift (speaking of California only). Who do you think comprised the net 690,000 + who left California. For those of you in Rio Linda that means even after the thousands of illegals that poured across the border there was still a decrease of 693,730 people in the state. Yes they were people who could AFFORD to move. Is it starting to come together for ya? California is going in the tank!
That's why I'm looking for the way out ASAP.
This access just worked.
http://online.barrons.com/article/SB113962615857771564.html?mod=9_0031_b_this_weeks_magazine_main
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