Tax Exodus: Five States that Residents are Fleeing
RIDER
COMMENT: California just missed being the second most abandoned state.
NY state edged us out, with basket case Illinois leading this race to
the bottom.
It’s not just that people are fleeing our state. It’s WHO is leaving — the young, the educated, the entrepreneurial, the ambitious and, of course, the wealthy. We keep our welfare population close to our Golden State buxom.
I
might add that this tax refugee outflow is based on PAST figures. Still
to come are the consequences of our “soak the rich” tax. And the costs
of the AB32 “cap-and-trade” fiasco.
And BTW, all five states voted for Obama, though #5 Ohio’s race was close.
Click here to read more blogs by Mr Rider.
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http://www.ncpa.org/sub/dpd/index.php?Article_ID=22637
Tax Exodus: Five States that Residents Are Fleeing
sources of revenue. Many states have turned to tax increases to sustain
current levels of spending rather than making cuts in various programs.
As a result, people have begun to move to different states to avoid the
taxation, resulting in a net loss of revenue, says the Fiscal Times.
- Illinois.
- New York.
- California.
- New Jersey.
- Ohio.
state, like Ohio; yet the fact that Illinois has so many people moving
out surprises many. However, the state has experienced an income tax
increase of almost 67 percent, which has residents opting to leave the
state.
employers expand their consumer base and attract new talent. Low tax
incentives have helped states like Texas and Florida develop better tax
bases.
long-term implications. For example, a dwindling population may create a
negative feedback in which local governments respond to it by
increasing taxes to make up for lost revenue, which, in turn, would lead
to more people leaving the state.
2012-12-05 02:03:41
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