Migration trends in California have reversed in recent years. There was a time when people moved to California.
What was for a long time, a shining jewel of the great American experiment, has lost much of its luster as tax rates and regulations have squeezed the economy. Despite the fantastic weather, the beautiful ocean and mountains, and de facto legalized pot (or perhaps for some because of such legalization), people nonetheless feel that the Golden State is no longer golden. As such, they have sought less taxed pastures farther east.
The same can be said for New York. Though the Empire State doesn’t have particularly good weather, and people are moving south not east, taxes are killing people there. As in California, the people who can, are leaving.
When taxes are high enough for people and businesses to pull up their stakes and move halfway across a continent something is wrong. Taxes are too high in the place from which they left.
We know that this kind of tax migration is happening largely because the IRS reports such migration. Or at least it did. It does no longer.
The National Review reports that the data is no longer public due likely to the embarrassing nature of the information. Pols in high tax states want the tax bases of their respective states to think that they have no option but to pay even higher rates.
Why would you want to leave New York anyway? Florida is way too hot. And let’s be honest. That nest egg you built up. Well, you didn’t really “build” it yourself anyway. New York State had at least an equal part in your modest success. If you think about it, you’re just paying us back.
Get – out – now.