Posted on

This Graphic On People Moving Due to Taxes Is Essential Viewing For Every Politician In America

photo

This Graphic On People Moving Due to Taxes Is Essential Viewing For Every Politician In America

The question of whether taxes affect behavior has long been debated by economists and ignored by most politicians.

This graphic by How Money Walks answers the question. The sourcedata- from the IRS- shows the changes in each state’s total adjusted gross income of taxpayers who’ve moved either in or out.

The states with the highest income taxes have had a net loss in taxpayer AGI of $107 billion, and the the states with no income tax have had a net gain of $146 billion. In other words, there’s been an exodus from high tax states to those with no taxes. The ultimate voting right: with one’s feet.

https://www.ijreview.com/2014/05/142898-graphic-people-moving-due-taxes-essential-viewing-every-politician-america/

5 thoughts on “This Graphic On People Moving Due to Taxes Is Essential Viewing For Every Politician In America

  1. I’m out.

  2. I’ll just register to vote and pay my income taxes at my beach house if my accountant tells me to.
    I wish I made enough $$$ to have to make that choice!

  3. It’s easy to spend other people’s money in states like NJ and NY. The question is what happens when the boomers retire to FLA and the rest of us are left trying to pay the bills when we already have the second highest state taxes in the country and the worst finances of any state in the country ? It’s only going to get a lot worse thanks to a massive rise in the number of state and municipal pensioners (who have already doubled in the past five years).


  4. Anonymous:

    It’s easy to spend other people’s money in states like NJ and NY. The question is what happens when the boomers retire to FLA and the rest of us are left trying to pay the bills when we already have the second highest state taxes in the country and the worst finances of any state in the country ? It’s only going to get a lot worse thanks to a massive rise in the number of state and municipal pensioners (who have already doubled in the past five years).

    It would not surprise me if the semi socialist states of NJ and NY tax your pension earnings AFTER you move.
    Their logic will be ‘you earned it here’ so you pay here.
    It will happen since there is no other way to pay the bills.

  5. They should definitely tax NJ state pensions at source on the state taxes if the check is being mailed out of state. You earned it here, you should spend it here. How is it fair to have a 50 year old earning a $100K pension from NJ but spending it all in Florida ? That’s $3 million+ in today’s dollars assuming they live for thirty years – all spent outside of NJ, with $240,000 in forgone state taxes. Multiply that by the 737 PFRS retirees who retired after 25 years (“special retirement” is something only police & fire are allowed to do, no one else) on +$100,000 pensions, and that’s $177 million of sate taxes over the next 30 years. Multiply that by the 1,731 elite 1% municipal retirees who currently collect +$100,000 pensions from the state of NJ, and that’s over $14 million a year in state taxes just from the top one percent of pensioners. It’s a lot more if you tax all 275,000-plus retired NJ public workers who live outside of the state.

Leave a Reply

Your email address will not be published. Required fields are marked *