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New Jersey has to rethink its budget because one guy moved


Linette Lopez

If you move away from your home state, some friends might throw you a party. Maybe you’ll get a happy-hour discount at your local bar.

If you’re really a big deal, you might get to throw out the first pitch at your local minor-league baseball team’s next game.

Other than that, everything will be pretty much the same after you’re gone.

That is, of course, unless you’re billionaire David Tepper.

If you are him, then when you move away you have the potential to send your whole state ( in this case New Jersey) into red-alert mode.

Tepper, the founder of the hedge fund Appaloosa Management, moved to Florida last fall. This, according to Bloomberg, has leaders of his former state very concerned.

5 thoughts on “New Jersey has to rethink its budget because one guy moved

  1. We are a State run by idiots.
    How long do they think you can continue to raise taxes before the earners start to leave?

  2. Same will start happening in Ridgewood. Once we build all of these massive projects, how do you think we’ll pay for the dramatic increase in demand for Village services? The higher your tax bill goes the less you’ll be able to sell your house for when you leave. Thank your local developer and hospital for this.

  3. This is a lesson for those who don’t think the state taxes are progressive enough. It means the burden falls increasingly on a smaller number of tax payers. And when they move as a result, the impact is huge

  4. It’s the fed taxes. NJ is the most independent state in the country when it comes to federal largesse… in other words, we send 10’s of billions more to DC than we get back… based on the lack of money coming back the funds have to come from somewhere…

  5. Smart move David Tepper. Tell the thug unions to stop demanding outrageous pensions and health benefits. It’s time to diminishes wages and benefits for public sector workers. #Taxedtodeath, #NomorePlatinumbenefits

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