People go where taxes are low....

  1. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    People go where taxes are low....

    http://www.ocregister.com/opinion/tax-409546-new-state.html

    Americans between 1995 and 2010 shifted some $2 trillion in wealth by abandoning California, Illinois, New Jersey and other high-tax states [Massachusetts]and unpacking in low-tax states such as Florida, Nevada and Texas [and Virginia].

    Tiger Woods and other successful athletes have done so.

    "After spending several years mapping and analyzing these data, one correlation keeps popping up: Income moves to where it is most welcome, tax-wise," Brown writes. "Money walks because opportunity talks."

    One-way traffic from the Empire State to the Sunshine State is so steady that Harrington Moving and Storage specializes in easing that exodus. "Our professionals work hard to ensure that you don't have to during your move from New York to Florida," boasts the Maplewood, N.J., company's website. "You can rest assured knowing that your New York-to-Florida move will be smooth, relaxing and seamless throughout."

    Connecticut still is smarting over the relocation of hedge-fund manager Edward Lampert. With an estimated net worth of $3 billion, according to Forbes, Lampert was considered the fifth-wealthiest man in the Nutmeg State. In August 2011, Connecticut increased taxes by $875 million, retroactively to that January. It cut the maximum property tax credit from $500 to $300 and lifted its top state income tax rate from 6.5 percent to 6.7 percent. Then, on June 1, 2012, Lampert moved his company, ESL Investments, to Florida. Lampert also took with him the $10.6 billion that ESL reportedly controlled at that time.

    Supply-side economists Arthur Laffer and Stephen Moore found similar unintended consequences after New Jersey boosted its top tax rate from 6.35 percent to 8.97 percent. As they wrote in the Wall Street Journal, "Examining data from a 2008 Princeton study on the New Jersey tax hike on the wealthy, we found that there were 4,000 missing half-millionaires in New Jersey after that tax took effect." State deficits soon erupted like Jersey barriers beside a ditch.

    Politicians should always remember that taxpayers are not oak trees. Shake them too hard, and they and their money soon will be gone with the wind.

    Massachusetts is on the brink..high taxes, increasing number of "takers" and decreasing number of "makers"...the population loss is glossed over because immigrants are coming in to Mass. for the freebies...good luck!

    See you in the South, soon , unless you work for the Government, of course.

     
  2. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: People go where taxes are low....

    of course people will go where less of their hard earned money is taken away by a wasteful govt!

     
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  4. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: People go where taxes are low....

    In response to 12-Angry-Men's comment:

     

    Ya, about that tax bullcrap...

     

    A September 2012 Stanford Center on Poverty and Inequality which looked at state tax records found the contrary.

     

    In fact, more millionaires came to the state than left after California's so-called Millionaire's Tax was introduced in 2005 - adding 1 percentage point of tax to incomes over $1 million. A 1996 cut to taxes for those earning $110,000 and up did not spur migration into the state, either.

     

    The very richest, who were likely to have houses and properties in many parts of the world with creative means to finesse their taxes, were the least likely to move after the tax hike, but even those at the bottom end of the millionaires scale did not pick up and leave, according to the September study.

     

    The Stanford researchers found New Jersey millionaires also stayed put, despite plenty of nearby, relatively inexpensive alternatives, after the state hiked its top rate by 2.6 percentage points.

    http://www.reuters.com/article/2012/11/18/us-california-tax-flight-idUSBRE8AH07S20121118

     

     

     What draws less attention is that sales, property and wireless service taxes are higher in Texas than in most other states.

        ...At the state level, Texas draws most of its revenue from federal funding and sales taxes. At the local level, property taxes play a major role.

        ...Combining state and local rates, Texas has the 14th-highest sales tax rates in the country and the 22nd-highest property tax rates, according to the Tax Foundation.

        …Texas ranks near the top in property taxes as a percentage of home value.

        "Once you start adding it all up and writing the check, you see there is no free lunch," (Texas Republican pollster David Hill) said. "Texas is a nice state with medium-to-high taxes."

        ...Texas has the fifth-most-regressive tax system in the country, according to a 2009 study by the Institute on Taxation & Economic Policy.

    http://www.star-telegram.com/2011/09/25/3395762/is-texas-really-a-leader-in-low.html

     




    You this out about California:

    "It's too early to look for signs of an exodus".

    California perennially ranks dead last in polls of business friendliness

    On Texas:

    The Lone Star State does not have an income tax and has clinched the No. 1 spot on Chief Executive magazine's list of best states for business for eight consecutive years.

     

     
  5. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: People go where taxes are low....

    The govenor of Texas annouced he will return the 8 billion dollar tax surplus to the people!

     

     
  6. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: People go where taxes are low....

    Due to population changes from the 2010 census , 12 House seats shifted. States with low or no income tax gained more representative seats in the House. Those states with a high income tax lost seats. Just as we expected, Americans are packing up and escaping places with out of control taxation.

    It is common sense that states with low taxes will attract more people. States with no income taxes have far more job growth and economic gains than those with income taxes—especially those with high income taxes. According to the American Legislative Exchange Council, the nine states without income taxes have had an average job growth of 18.2 percent over the past decade. On the other hand, the nine states with the highest income tax experienced a mere 8.4 percent rise in jobs.

    The latest Census data only confirms what we have always known. Americans are sending a message by voting with their feet. More of us are choosing low taxes, less government and more freedom.

     
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  8. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: People go where taxes are low....

    In response to 12-Angry-Men's comment:

    In response to tvoter's comment:

    You this out about California: 

    "It's too early to look for signs of an exodus".

    [QUOTE]

    Geepers spanky, you're as bad a MSNBC in your selective editing.

    You must've just 'forgot' to include the full context of the quote. Let me help you out.

    It's too early to look for signs of an exodus. But if history in California and New Jersey, another state with high taxes and its share of multi-millionaires, is any guide their won't be a run for the exits.



    The words "BUT IF" mean IT'S TOO EARLY TO TELL spanky!!

    Buy a clue!

     
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  10. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: People go where taxes are low....

    In response to WhatDoYouWantNow's comment:

    So many herrings it's hard to pick a place to start.

    The first proper step would be to identify the type and amount of services government should apply. Then, taxation levels necessary to meet that should be imposed. 

    Cheering on a race to the bottom to see who can lick the largest amount of rich person rectum is more or less the opposite of responsible governance.

    Are some people with millions lying about greedy enough to move their families because they'll make a handful of dollars? Sure. Why should the greed of those few dictate tax, and in turn domestic, policy for 300,000,000 people? 

    Bobin is advocating some hard core class warfare here folks.

    The first step should be to stop punishing the successful at the expense of the middle and lower class!

     
  11. You have chosen to ignore posts from FaolanofEssex. Show FaolanofEssex's posts

    Re: People go where taxes are low....

    In response to ComingLiberalCrackup's comment:

    http://www.ocregister.com/opinion/tax-409546-new-state.html

    Americans between 1995 and 2010 shifted some $2 trillion in wealth by abandoning California, Illinois, New Jersey and other high-tax states [Massachusetts]and unpacking in low-tax states such as Florida, Nevada and Texas [and Virginia].

    Tiger Woods and other successful athletes have done so.

    "After spending several years mapping and analyzing these data, one correlation keeps popping up: Income moves to where it is most welcome, tax-wise," Brown writes. "Money walks because opportunity talks."

    One-way traffic from the Empire State to the Sunshine State is so steady that Harrington Moving and Storage specializes in easing that exodus. "Our professionals work hard to ensure that you don't have to during your move from New York to Florida," boasts the Maplewood, N.J., company's website. "You can rest assured knowing that your New York-to-Florida move will be smooth, relaxing and seamless throughout."

    Connecticut still is smarting over the relocation of hedge-fund manager Edward Lampert. With an estimated net worth of $3 billion, according to Forbes, Lampert was considered the fifth-wealthiest man in the Nutmeg State. In August 2011, Connecticut increased taxes by $875 million, retroactively to that January. It cut the maximum property tax credit from $500 to $300 and lifted its top state income tax rate from 6.5 percent to 6.7 percent. Then, on June 1, 2012, Lampert moved his company, ESL Investments, to Florida. Lampert also took with him the $10.6 billion that ESL reportedly controlled at that time.

    Supply-side economists Arthur Laffer and Stephen Moore found similar unintended consequences after New Jersey boosted its top tax rate from 6.35 percent to 8.97 percent. As they wrote in the Wall Street Journal, "Examining data from a 2008 Princeton study on the New Jersey tax hike on the wealthy, we found that there were 4,000 missing half-millionaires in New Jersey after that tax took effect." State deficits soon erupted like Jersey barriers beside a ditch.

    Politicians should always remember that taxpayers are not oak trees. Shake them too hard, and they and their money soon will be gone with the wind.

    Massachusetts is on the brink..high taxes, increasing number of "takers" and decreasing number of "makers"...the population loss is glossed over because immigrants are coming in to Mass. for the freebies...good luck!

    See you in the South, soon , unless you work for the Government, of course.



    Interesting. Refresh my memory. What states are the majority of government contracters in?

     
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  13. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: People go where taxes are low....

    In response to 12-Angry-Men's comment:

    You're citing ALEC as a 'source'. Seriously?

     


    Whereas you cite the moonbats at "the Institute on Taxation & Economic Policy", a liberal, Washington, D.C.-based group, which even the Globe and NY Times recognize as "liberal leaning"...


     
  14. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: People go where taxes are low....

    They’re [California] going to have an exodus of people,” said John Karaffa, president of ProSport CPA, a Virginia-based firm that represents nearly 300 professional athletes, primarily in basketball and football. “I think they’ll see some [leave California] for sure. They were already a very high tax state and it’s getting to a point where folks have to make a business decision as well as a lifestyle decision.”

    Read more: http://www.foxnews.com/sports/2013/01/30/federal-state-tax-hikes-could-send-athletes-migrating-to-tax-friendlier-states/#ixzz2JVcUWolt

     

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