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NY and CA Lose Billions to Low Tax States Like FL

Discussion in 'Too Hot for Swamp Gas' started by gator95, May 2, 2023.

  1. gator95

    gator95 GC Hall of Fame

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    NY and CA losing billions while states like FL are raking in the money. Weird how so many say FL is a terribly run state yet people keep moving here...

    https://www.cnbc.com/2023/05/02/new-york-california-lose-billions-in-income-to-low-tax-states.html

    New data from the Internal Revenue Service shows that New York state lost $25 billion in adjusted gross income due to outmigration in 2021, on top of $20 billion lost in 2020. California reported a net loss of $29 billion in 2021, following a loss of $18 billion in 2020. Combined, the two states lost $92 billion across the two years.

    The biggest winner in the migration has been Florida: The Sunshine State gained a net 128,000 households in 2021, bringing over $39 billion in income, according to the IRS data, a huge jump from the $28 billion gained by the state in 2020. Palm Beach County, which includes the exclusive town of Palm Beach, gained over $11 billion in income alone in 2021, according to the IRS.
     
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  2. wgbgator

    wgbgator Premium Member

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    Sweet some of the most useless people on earth moved here to pay even less taxes
     
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  3. jjgator55

    jjgator55 VIP Member

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    Mostly Covid related and the top 1% moving to protect their wealth, but it comes with a cost of being the least affordable place in the nation to live.
    Florida is the least affordable place to live in the U.S.
     
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  4. wgbgator

    wgbgator Premium Member

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    On the plus side, they are the only set of people who can afford insurance and housing prices here
     
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  5. gator95

    gator95 GC Hall of Fame

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    Why was it covid related? All I've read on here is FL sucked at dealing with covid. Why would anyone want to come to FL during what you and others said FL did a terrible job? Weird...
     
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  6. docspor

    docspor GC Hall of Fame

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    Devo called it.

    Freedom of choice is what you've got
    Freedom from choice is what you want
     
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  7. wgbgator

    wgbgator Premium Member

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    The article specifically mentions remote work as a reason, not that Hooters opened a couple months sooner here
     
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  8. jjgator55

    jjgator55 VIP Member

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    I’ll use New York as an example. Cuomo added a “millionaire’s tax” in 2020 as part of COVID-relief budget that hiked the top rate to 9.65% from 8.82%. The yuppies fled Manhattan for Palm Beach to avoid paying the tax.

    Let me say that this is just a normal transformational process, and if it continues Florida will eventually evolve into what NY and Calif are today.
     
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  9. gator95

    gator95 GC Hall of Fame

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    Why remote work in such an authoritarian state?
     
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  10. gator95

    gator95 GC Hall of Fame

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    Sure it will...LOL.
     
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  11. jjgator55

    jjgator55 VIP Member

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    It’s already happening. Florida has one of the most regressive tax systems in the nation. Eventually the tax burden will trickle up from to poor to the top earners.
    Who Pays? 6th Edition.
     
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  12. buckeyegator

    buckeyegator Premium Member

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    wow, did not know so many libbies left those 2 paradise states for poor ole florida, maybe not so dumb after all.
     
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  13. gator95

    gator95 GC Hall of Fame

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    You keep thinking that FL will be like NY. It's the libby dream but ain't happening.
     
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  14. jjgator55

    jjgator55 VIP Member

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    So it’s your belief that state and local services, Highway, building and bridge construction and maintenance, police and fire protection, and schools will not increase despite the influx of new residents?
     
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  15. VAg8r1

    VAg8r1 GC Hall of Fame

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    Ironically considering his later positions, after they became available in January 2021 DeSantis was very effective in providing accessibility to the Covid vaccines. In fact, for a while there was actually problem with residents of other states visiting Florida to get vaccinated. Later Meatball Ron DeSanctimonious did a near 180 catering to the anti-vaxxers by prohibiting governmental entities and businesses from requiring vaccinations for their employees and clientele.
     
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  16. buckeyegator

    buckeyegator Premium Member

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    well just wait until desantis writes a book and wins an emmy.......
     
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  17. gator95

    gator95 GC Hall of Fame

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    We won't be implementing income taxes in FL like NY/CA.
     
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  18. gator95

    gator95 GC Hall of Fame

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    Seriously, this is your take?
     
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  19. jjgator55

    jjgator55 VIP Member

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    Those things aren’t free you know.
     
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  20. gator95

    gator95 GC Hall of Fame

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    They aren't? I mean how did we build anything without state income taxes? Hmmm...
     
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