From the New York Post:
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…
It all adds up to a staggering loss in taxable income. During 2006-2007, the “migration flow” out of New York to other states amounted to a loss of $4.3 billion…
This reminds me of a great Wall Street Journal article I read back in May of this year entitled Soak The Rich, Lose The Rich, in which the following was revealed,
Updating some research from Richard Vedder of Ohio University, we found that from 1998 to 2007, more than 1,100 people every day including Sundays and holidays moved from the nine highest income-tax states such as California, New Jersey, New York and Ohio and relocated mostly to the nine tax-haven states with no income tax, including Florida, Nevada, New Hampshire and Texas. We also found that over these same years the no-income tax states created 89% more jobs and had 32% faster personal income growth than their high-tax counterparts.
Did the greater prosperity in low-tax states happen by chance? Is it coincidence that the two highest tax-rate states in the nation, California and New York, have the biggest fiscal holes to repair? No. Dozens of academic studies — old and new — have found clear and irrefutable statistical evidence that high state and local taxes repel jobs and businesses.
This seems like a pretty basic concept to most people, but for whatever reason, politicians and liberals just don’t get it. Or perhaps it is not in their best interest to do so. What would be interesting to find out about these statistics is, how many of these fleeing rich are liberals? How many are running from a mess they helped create? How many will move to conservative low-tax states, bring their liberal big-government mindsets with them and like a virus, spread their sickness to those communities when they have amassed enough voters? Let’s say together: NORTH CAROLINA.