Posted on 08/20/2019 7:22:39 PM PDT by E. Pluribus Unum
Heritage Foundation chief economist Steve Moore reacted to the high numbers of New Yorkers who are fleeing to Florida because of high state taxes.
“This is the big demographic story of our country that may be the biggest economic story,” Moore said on "The Daily Briefing."
He said there are “four states of the apocalypse” – New York, New Jersey, Connecticut, and Illinois – which have the most residents fleeing over high taxes and huge budget problems.
They are leaving for Florida, Tennessee, Texas, Utah and North Carolina.
“You can buy a house just with the money you save on income taxes,” Moore noted.
A bump in moving activity started with the federal tax overhaul in 2017. Although rates were cut for corporations and individuals, the ability of residents to deduct state, city and property taxes from their federal returns in places like New York, New Jersey, and Connecticut was diminished.
Other heightened tax obligations are kicking in as well. As of July 1, a three-decades-old “mansion tax” in New York State is being boosted in New York City to help pay for improvements to the city’s creaky subway system.
Some northern states say they’re feeling the pain. New Jersey reported a 35 percent decline in income tax revenue for 2018, according to The Wall Street Journal, and officials blamed the drop on tax policy. And New York Gov. Andrew Cuomo complained in February that the policy change was a “diabolical maneuver” to help red states “at the cost of blue states.”
(Excerpt) Read more at foxnews.com ...
california is following closely imho to pay for illegal aliens, health care, homeless programs, etc.
Not discussed, but people are also fleeing the draconian GUN LAWS now being put into place in those Blue States, and I know some of them. These people don’t care as much about the taxes, but tell them they’re not allowed to defend themselves, while the Leftists keep emptying the jails - thta creates yet another rush out.
I moved to Florida from New York in 2013. I’m cool with folks moving here as long as they don’t vote to turn Florida into the shit hole they left.
Unfortunately too many maintain NY residence and vote in both places. And they vote Dem, willing to turn Fl into the Blue mess NY has become.
“New Jersey reported a 35 percent decline in income tax revenue for 2018...”
I know it won’t keep up like that, but it sounds like NJ is headed for third-world status in just a few years. Good thing they can’t print their own money.
The democrats have a great solution.
They will just raise the taxes for those that remain.
But they do indeed vote for Dems in Florida. And in NY too. Very hard to prove, but I lived in FL and know they do.
Should be :officials blamed the drop on state tax policy.
Now who can change state tax policy? (hint)(hint)
Well, actually that’s been going on for years. Florida is crammed with Nyers.
Diabolical! LOL
Nothing more needs to be said. He is a liberal buffoon.
And I’ll never understand that. Move because of taxes, then vote for more taxes.
If Cuomo and the dems that run the New York legislature don’t like it, there’s a simple solution.
Cut New York state and city taxes.
Reduce them to equal Florida’s: zero percent.
Funny how the douchebags who run the city and state of New York never try that.
They’ve ruined the Commonwealth of Virginia, voting for what they fled.
No wonder Epstein committed suicide...
Is that Cuomo Fredo’s father? Buffoon and a dickhead dad, too?
..... When the REALITY of peoples actual Needs....... Outweigh .... The Dreams of the Democrat Elite ..........
Ditto that...from OK
The day that the welfare-warfare, tax-spend-buy-votes system collapses inches ever closer....
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