Tax refugees staging escape from New York

Discussion in 'Economics' started by ByLoSellHi, Oct 27, 2009.

  1. Tax refugees staging escape from New York


    Last Updated: 6:08 AM, October 27, 2009

    Posted: 2:53 AM, October 27, 2009

    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.

    The vast majority of the migrants, 1.1 million, were former residents of New York City -- meaning one out of seven city taxpayers moved out.

    "The Empire State is being drained of an invaluable resource -- people," the report said.


    What's worse is that the families fleeing New York are being replaced by lower-income newcomers, who consequently pay less in taxes.

    Overall, the ex-New Yorkers earn about 13 percent more than those who moved into the state, the study found.

    And it should be no surprise that the city -- and Manhattan in particular -- suffered the biggest loss in terms of taxable income.

    The average Manhattan taxpayer who left the state earned $93,264 a year. The average newcomer to Manhattan earned only $72,726.

    That's a difference of $20,538, the highest for any county in the state. Staten Island was second, with a $20,066 difference.

    It all adds up to 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.

    The study used annual US Census reports, which showed which states had increased population, combined with Internal Revenue Service data, which show which states, cities and counties had lost people.

    While New York City and the state were the losers, the Sunshine and Garden States were winners. more than 250,000 New Yorkers who lived in and around the city fled to Florida. Another 172,000 city taxpayers ended up in New Jersey.

    Why all the moving vans?

    The center, part of the conservative Manhattan Institute, blames the state's high cost of living and high taxes.

    The study also revealed surprising details about how city residents moved from borough to borough.

    Manhattan lost 64,480 taxpayers, and more than half -- 34,383 -- went to The Bronx.

    Brooklyn lost 68,951 taxpayers -- including 43,688 who went to Staten Island.

    The study also had some good news. The peak loss of New Yorkers was in 2005, when nearly 250,000 residents left the state. But last year, only 126,000 left, the lowest figure over the eight-year period.
  2. jem


    this is why it is so irresponsible of governments to just keep raising taxes.

    You force the tax payers with jobs to leave.

    Its is one of the saddest things about living in California.

    You watch the northern CA liberal losers (democratic legislature) destroy the state one expensive decision at a time.
  3. The first thought that came to mind, what % of these high wage earners retired or buyouts. My guess, plenty. The article makes a good case against high taxes though.
  4. hayman


    New York State taxes will surge even higher, as the pension plans of New York state Union workers becomes more unfunded by the day. Many of these negotiated pension plans were put in place during the pseudo bull-years, and the average New Yorker schmuck will be incurring higher taxes to help pay for these costs.

    To amke matters worse, I was just hit with an MTA tax, since I am self-employed and live in New York. I have no business that requires that I ride mass transit, yet the self-employed were hit with this tax this month.

    It is becoming unbearable to live in New York, cost-wise.
  5. I've often wondered why more businesses don't move out of New York. A local deli has no choice, but financial firms can work from anywhere. Here in California, many businesses are moving out completely. Others are setting up satellite operations and relocating large numbers of employees to places like Nevada and Texas. California's taxes are through the roof and out of control. Only New York and New Jersey are worse. Maybe it's time to move to Texas.
  6. cash for effect, a tax rebate.

    1st time homeowner tax rebate.

    These 2 are touted as success................

    So.....................fucking no-brainer that tax reductions work you fuking greedy, cock-sucking congressional criminals!!!!!!!!!!!!!!!!!
  7. wartrace


    No, they are NOT tax rebates, they are subsidies. An across the board tax rebate would have been the fairer thing to do- subsidizing specific industries was plain wrong.

    Why did you single out Barney Frank with your rant- you should be angry with ALL of them- not just Barney.....(and the assorted women congress members who aren't too butt ugly to get some)
  8. Yeah and all of these stinking YANKEES are ending up in NC, go back, please. Take your carpet bags and leave, 95 NORTH, Utica and Syracuse are the promised land go, take your love of Bigger Gov't and High taxes and Git on out of hea' ya hea'.

    The Ever Just Kiddin VIPER Or Not

    Ok, Ok you can have Chapel Hill, and Ashville, just stay out of "down east"
  9. clacy


    Sounds like many people were just trading down, rather than escaping taxes.

    Moving from NY, to NJ or the Bronx isn't likely to be a big net tax gain for people, but the cost of living might be significantly lower.

    Moving to Florida on the other hand is probably a tax move.
  10. Gawd, the thought of that pig covered in oil on a sheepskin rug with an astro-glide zerk fitting on a 30 gallon barrel.

    The rest of them fit the bill as well....gramma pelosi as a diving diva.
    #10     Oct 27, 2009