[quote=Aecetia]What ridiculous taxes will cause as in New York an exodus of the wealthy:
New Yorkers are fleeing the state and city in alarming numbers — and costing a fortune in lost tax dollars, a new study shows.
More than 1.5 million state residents left for other parts of the United States from 2000 to 2008, according to the report from the Empire Center for New York State Policy. It was the biggest out-of-state migration in the country.
The vast majority of the migrants, 1.1 million, were former residents of New York City — meaning one out of seven city taxpayers moved out.
“The Empire State is being drained of an invaluable resource — people,” the report said.
Another consequence will be the creation of an even larger underground economy where there will be no cash.
P.S. The comments on the article are hilarious, especially the ones by gulfstreamliberal[/quote]
I’ll bet that has much more to do with the high cost of living vs. high taxes. It mentioned that 2005 was the peak year for out-migration, and the trend was observed during the 2000-2008 credit bubble period. So much money was being made by people in the financial industry, that I’m sure most “regular” people weren’t able to afford living there. They were probably pushed out by the high-income earners with all their ill-gotten $$$$.
😉
