New York, Other High-Tax States Losing Residents

Tuesday, 29 May 2012 12:48 PM

By Newsmax Wires

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
New York State, which has ranked second for the highest state and local tax burden in 2009 and has consistently ranked the highest for tax burden every year, has lost 3.4 million residents to other parts of the country over a 10-year period, representing the biggest exodus in the country and a loss of $45.6 billion in income, CNS News reports.

The state gained 2.1 million during that same period, 2000-2010, with net migration totaling 1.3 million, according to the Tax Foundation, whose report was cited in the CNS News article. The migration out of New York represents a loss of $45.6 billion in income.

New York State’s loss has been Florida’s gain, with more than 600,000 New York residents relocating to the Sunshine State over the decade, with its more lenient tax system and warm weather. They took about $20 billion in adjusted growth income with them, the Tax Foundation said. Florida welcomed 208,794 Pennsylvanians during that same time period and took in their $8 billion in income.

“Many of these New York and Pennsylvania residents no doubt moved to Florida for the warm weather,” the foundation, a nonpartisan research group, said. “But many more may have moved there because the state does not have an individual income tax, an estate tax, nor an inheritance tax.”

California, with similar onerous taxes and regulations, saw a similar trend of its residents leaving for other states. The migrating Californians mostly chose Texas and Arizona.

Since 2000, 1.2 million more people have left California than have moved there, the second biggest net loss, after New York, according to the Tax Foundation.







© 2014 Newsmax. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Dick Morris: US Must Keep Electoral College

Tuesday, 15 Apr 2014 14:46 PM

Democrats are plotting to rig the presidential voting system to ensure that liberals win future elections, veteran polit . . .

John Sununu: 2016 Election Will Focus on Taxes

Tuesday, 15 Apr 2014 21:08 PM

Taxes will be a focus of the 2016 presidential election, former New Hampshire Gov. John Sununu believes. . . .

PPP: Greg Abbott Now Leads Wendy Davis Even Among Women Voters

Tuesday, 15 Apr 2014 21:15 PM

Texas Democratic gubernatorial candidate Wendy Davis' support from women is slipping, as she now trails her Republican o . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved