NEWS FLASH! High State Taxes Force People To Leave


Inquiring minds are looking at Tax Prof Blog to read Paul L. Caron’s new article showing how high state taxes make people leave:

Of the seven states that don’t have a personal income tax, four (Texas, Florida, Nevada and Washington) account for eight of the 12 seats apportioned to the fastest-growing states.

New York and Ohio lost two more seats. Other losers — down one each — are Massachusetts, Missouri, Michigan, New Jersey, Pennsylvania, Illinois, Louisiana and Iowa. What do they all have in common? High taxes. …

The states that lost seats ranked an average of 24th in taxes and had an average tax burden of $2,267 per capita. … The states that gained seats ranked an average of 39th in taxes and had an average tax burden (weighted) of $1,788 — 27% lower than the losing states.

Pretty much an open and shut case, which is not good news for The (Formerly) Golden State. Look at this table from Mr. Caron’s April 7th post from earlier this year:

There is no way that California is really #12 on the list. How much higher on the list would The (Formerly) Golden State be if it would raise taxes to cover its burgeoning debt?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: