Wednesday, March 26, 2014

States Taxing Billions OUT of the State : More Blue then Brains

Elections have consequences! But when the voter can not see how their vote effects them in their daily lives, then they, the voter, must live or parish with the consequences of their ignorance and incompetence.

It can not be the burden of everyone else that find ways to solve problems to support a state that is inhabited with mentally incompetent people. If you are incapable of understanding a problem that is forcing you to live a life that is not of your choosing, then accept the results of that ignorance.

You voted over and over again not knowing, apparently, why you are being crushed by high taxes, you only know that you have always voted democrat no matter what has transpired in your life to make it miserable, or in your state that is headed for economic collapse.

High Tax States Losing Billions
Source: Rob Garver, "High Tax States Are Losing Billions," Fiscal Times, March 17, 2014.
March 25, 2014

New research reveals the billions of dollars that high-tax states are losing as taxpayers move elsewhere, says the Fiscal Times.

How Money Walks, a new book by Travis H. Brown, reveals that states with high income taxes saw large amounts of money move to low-tax states.
  • Looking at 18 years of data, from 1992 to 2010, Brown found that $68.1 billion in income moved from New York, $19 billion of it moving to Florida, which has no state income tax.
  • In fact, New York was a net wealth recipient from only one state: Michigan.
  • California's top tax rate is 12.3 percent, and it also saw a net $45.3 billion leave its state. The top recipients of the California cash were Nevada and Arizona. Nevada has no income tax and Arizona's top rate is only 4.45 percent.
  • All nine of the states with no income tax or that tax only interest and dividend income saw net inflows. The states that received the most? Florida ($95.6 billion), Arizona ($28.3 billion), North Carolina ($25.2 billion) and Texas ($24.9 billion).
Clearly, taxpayers are aware of the tax burdens in these states and are taking their money elsewhere.
 

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