We’ve been writing about this for quite a while now. Parts of this country have reached the tipping point. Some places are just too burdened with taxes and regulation for everyday people. As such people are picking up stakes and moving.
The most obvious area of challenge is California, but as this article illustrates there are other areas from which Americans are fleeing in search of tax and regulatory relief. In large pockets all across the USA politicians are draining the taxpayer well and in so doing draining the good will of taxpayers. People have just had enough.
Given the unfunded government employee pension liabilities that loom on the horizon in places like Connecticut and Illinois we wonder why ANYONE is staying in these places. Things are only going to get worse. The time to get out is now.
But leave your high tax big government voting tendencies back in New York and Cali. The rest of the country doesn’t want the infection to spread.
(From The Hill)
With between up to 50 percent of their paycheck going to a combination of federal, local and city taxes, not including other consumer taxes baked into every aspect of their consumer practices, residents don’t even have the comfort of knowing that their tax expenditures are going to the improvement of their lives in the city. New York infamously misuses the hard-earned tax revenues of its citizens in ways that scarcely benefit them.
Eventually, city and state taxes, fees, and regulations become so burdensome that people and corporations jump ship. More people are currently fleeing New York than any other metropolitan area in the nation. More than 1 million people have moved out of New York City since 2010 in search of greener pastures, which amounts to a negative net migration rate of 4.4 percent…
…These facts are not coincidences. In fact, in 2016 the Golden State lost almost 143,000 net residents to other states — that figure is an 11 percent increase from 2015. Between 2005 and 2015, Los Angeles and San Francisco alone lost 250,000 residents. The largest socioeconomic segment moving from California is the upper-middle class. The state is home to some of the most burdensome taxes and regulations in the nation. Meanwhile, its social engineering — from green energy to wealth redistribution — have made many working families poorer. As California begins its long decline, the influx outward is picking up in earnest.