Gov. Cuomo's Right: The Rich Are Leaving High-Tax
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Posted On: 08/06/2019 11:07:16 PM
Gov. Cuomo's Right: The Rich Are Leaving High-Tax New York
No, not all the people who left New York were rich. But many were. And recent changes in the deductibility of federal taxes certainly hasn't helped high-tax states like New York. As we said, the wealthy have choices that others don't. One of those choices is to move if taxes become not merely burdensome, but punitive. That's what's happening in New York.
By the way, we also compared the Wallet Hub data with the states that were gaining population, and lo and behold: Five low-tax states — Texas, Florida, North Carolina, South Carolina and Washington — gained the most population.
In short, high taxes drive people away; low taxes attract them. It's simple economics, yet so many Blue States don't get it.
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AND this is the Knee Slapper
They VOTED the Problem's in But they don/t want to stay and Suck up what they VOTED in.
They will move to another state and do the same thing VOTE in HIGH TAXES and TRASH the STATE
No, not all the people who left New York were rich. But many were. And recent changes in the deductibility of federal taxes certainly hasn't helped high-tax states like New York. As we said, the wealthy have choices that others don't. One of those choices is to move if taxes become not merely burdensome, but punitive. That's what's happening in New York.
By the way, we also compared the Wallet Hub data with the states that were gaining population, and lo and behold: Five low-tax states — Texas, Florida, North Carolina, South Carolina and Washington — gained the most population.
In short, high taxes drive people away; low taxes attract them. It's simple economics, yet so many Blue States don't get it.
=====================================
AND this is the Knee Slapper
They VOTED the Problem's in But they don/t want to stay and Suck up what they VOTED in.
They will move to another state and do the same thing VOTE in HIGH TAXES and TRASH the STATE
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