Florida Exodus: Rising Taxes Drive Out Residents – This is a bit ironic because so many people relocated to Florida specifically to escape income taxes in other states. However, as the shortsighted rulers of Florida fail to realize, it is the overall tax burden, including rapidly escalating property taxes, that motivate people to relocate to less expensive states.

Unlike the Federal tax rates, which have their annual inflation adjustments announced before the tax year starts, the geniuses in my former home state wait until the year is half over to do those calculations.

Spidell has just released a handy two-page pdf with the new 2009 inflation adjusted rates, credits and deductions for personal income taxes.

Thanks to Neal Boortz for these bits on the efforts of many states to squeeze more money out of as many people as possible.

Facing budget gaps, U.S. states shuffle tax codes

States propose $24 billion in tax hikes – Minimizing state taxes is a game with constantly changing rules.

Millionaires Go Missing – It’s always great to see when people reach their breaking point after being soaked with taxes and leave the high tax states, such as this article about Maryland.  There will also be many similar stories about other high tax states whose rulers believe that they can fiscally rape high income folks with impunity, such as California and New York. 

Soak the Rich, Lose the Rich – Since using the ballot box is obviously ineffective at lowering taxes, the next best thing is to vote via moving vans and bail out of high tax states.  It’s an excellent time for those of us who understand how to help clients source their income from low and zero tax states.