The nine states with the highest personal-income-tax rates lost $100 billion in AGI from 1995 to 2010. The nine states without any personal-income tax gained $146 billion. Businesses want to invest in lower-tax jurisdictions, and that creates jobs and brings families and their incomes. According to Census Bureau figures, nearly twice as many people move for jobs or job-seeking as for changes in marital status, and about as many people were moving for jobs as were moving because they were buying homes. Jobs move people. These trends also hold true within states. It is no surprise that New York County (Manhattan) has lost AGI to nearby suburban areas such as Westchester County, N.Y., and Fairfield County, Conn., or that Philadelphia, which imposes a city income tax, has lost people and income to nearby suburban counties. Air will flow to areas of lower pressure. Tax payers will flow to areas of lower taxation. And those locations the tax payers flow to will reap the taxes they do pay. We always hear about the greed of corporations and capitalism. Who are the greedy ones here? Democrat controlled governments. They demand more and more of what you earned while offering less and less in return. You have options. You can move and take your tax dollars elsewhere. Somewhere more reasonable. Somewhere more... American.
Posted on: Mon, 02 Sep 2013 14:33:27 +0000
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