New Yorkers Flee From Exorbitant Taxes

Monday, 09 Jun 2014 11:59 AM

By Ronn Torossian

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In New York, there is an extremely liberal city council that is openly anti-business, a “progressive”mayor (who pays only an 8 percent effective tax rate), and a governor who said that conservatives have "no place" in New York.
 
Against that backdrop, conservative talk-show host Sean Hannity is leaving the state — and it's been largely ignored by the media. (Imagine the media up-roar if a prominent liberal left because of a policy?)
 
Hannity is not alone — Census Bureau estimates show that 104,470 more people moved out of New York than moved into it during the 12 months ending July 1. Like him or not, Hannity this week told Florida Senator Marco Rubio: "You're soon going to be my senator," as he plans to end his New York residency and will divide his time between Florida and Texas.
 
Hannity said, “I can’t wait to get out of here. I really can’t. I don’t want to pay their 10 percent state tax anymore. I can’t wait to sell my house to somebody who wants it. I can’t wait to pay no state income tax down in Florida or Texas.”
 
As an entrepreneur, my next quarterly taxes are due June 15th, and as I dread this week’s preparation visit from my accountant, I envy Hannity.
 
As a PR firm owner, I pay more than 50 percent in taxes — 35 percent federal, 8.25 percent New York state taxes, and 4 percent local taxes. Add in Medicare, social security, payroll, workers compensation, NYC commercial rent taxes, payroll tax, and who knows what other tax and it is more than 50 percent. Is it any wonder that people are leaving New York? The 2014 State Business Tax Climate Index placed New York 50th (out of 50 States) as a result of high income, corporate, sales, and property taxes.
 
Occasionally, I walk around my Upper West Side neighborhood — and have to see the Occupy Wall Street fools who stand outside of 15 CPW and yell about Lloyd Blankfein. Blankfein, the Chairman of Goldman Sachs was raised in the Bronx, sold pretzels at Yankee Stadium in High School, and worked in the Harvard cafeteria. He should be a model for all New Yorkers and celebrated. This is a great New York City success story — instead Blankfein and people like him are regarded as “bad.” What warped values.
 
The obsessive nature of taxing the 5,000 very wealthy New Yorkers who pay 30 percent of NYC’s taxes is unfair. So many in New York are taxed without representation — New York, New York.
 
Ronn Torossian is one of America’s foremost Public Relations executives as founder/CEO of 5WPR, a leading independent PR Agency. The firm was honored as PR Firm of the Year by The American Business Awards, and has been named to the Inc. 500 List. Torossian is author of the best-selling "For Immediate Release: Shape Minds, Build Brands, and Deliver Results with Game-Changing Public Relations." For more of Ronn Torossian's reports, Go Here Now.
 
 

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