Escape From New York
Posted by taxguru on August 7, 2020
Everyone has their own personal breaking point; how much fiscal and other kinds of torture they are willing to tolerate before packing up and leaving. High taxes and extreme regulations weren’t enough for many New Yorkers; but the insane and deadly way they have been treated during this pandemic seems to have been the final straw for many.
New York exodus accelerates amid pandemic as some residents head south
Florida sees nearly 1,000 people move there daily as high-tax residents seek shelter
NYC relocations accelerating at ‘substantial’ pace, local movers say
A mad rush for the exits as New York City goes down the tubes
Just as with the states where tax refugees from California have relocated, there are some pitfalls to this migration. Besides driving up real estate prices, the newcomers to low tax states often bring their big government ideology with them and end up destroying the environment that attracted them in the first place. With so many New Yorkers moving down south here to Florida, that is a very valid concern.
Fleeing New Yorkers resulted in an estimated $34 billion in lost income
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