Escape From New York? High-Taxing Empire State Loses 3.4 Million Residents in 10 Years By Elizabeth Harrington May 29, 2012 (CNSNews.com) – New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, according to the Tax Foundation.
Over that decade the state gained 2.1 million, so net migration amounted to 1.3 million, representing a loss of $45.6 billion in income.
Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade – opting perhaps for the Sunshine State’s more lenient tax system – taking nearly $20 billion in adjusted growth income with them.
Over that same time period, 208,794 Pennsylvanians moved to Florida, taking $8 billion in income.
“Many of these New York and Pennsylvania residents no doubt moved to Florida for the warm weather,” says the foundation, a nonpartisan research group. “[B]ut many more may have moved there because the state does not have an individual income tax, an estate tax, nor an inheritance tax.”
The Tax Foundation has created a “migration calculator” based on data from the Internal Revenue Service, tabulating the number of individuals moving between states each year, and income affected by the shifts.
The calculator shows that 612,520 people renounced their citizenship in New York State and moved to Florida in the 10-year period, taking with them $19.7 billion in adjusted growth income.
Between 2009 and 2010 alone, 40,195 New York residents moved to Florida, taking $1.3 billion in income.
According to the group, New York ranked second among the states for the highest state and local tax burden in 2009. The Empire State was ranked highest for tax burden every year from 1977 until 2006, except in 1984 when it was ranked second.
New York State has a progressive personal income tax rate ranging from 6.45 percent to 8.82 percent for those earning over $2 million. Sales varies by county, and is between seven and eight percent. In Manhattan, the sales tax is 8.875 percent.
According to the Retirement Living Center, which examines tax burdens by state for those nearing retirement, New York also levies a gasoline tax at 49.0 cents per gallon and a cigarette tax of $4.35 per pack, along with an additional $1.50 per pack in New York City.
New York is also one of 17 states plus the District of Columbia that collects an estate tax, with a $1 million exemption and a progressive rate from 0.8 percent to 16 percent.
I would like to see the stats on exactly how many were seniors seeking to retire to warmer weather (snow birds) and how many were working aged folks who left for better jobs and lower taxes.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
I think California has a much larger rate of people escaping, I do know that businesses are leaving in droves
"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
US News & World Report cites Ithaca NY city as one of the best to retire...
A college town for retirees: Ithaca, N.Y.
College towns like Ithaca can be an ideal place to retire. For a median home price of just $176,500, retirees can take classes at Cornell University or Ithaca College and attend speeches, concerts, and sporting events. They can also spend their days hiking to the more than 100 waterfalls and gorges within 10 miles of downtown or sampling the wares of the Cayuga Lake Wine Trail. Don Wilson, 65, a retired cardiologist from Rockford, Ill., bicycles throughout the Finger Lakes region three times a week. "The rural roads in the Finger Lakes region have so little traffic that you can ride three or four abreast on a bicycle in continuous conversation, learning from each other," he says. Wilson has also developed an interest in paleontology, and is taking a course on the subject at Cornell University and conducting research on fossils at the Museum of the Earth. "I think that university towns tend to attract interesting organizations, like the Museum of the Earth, and interesting people who may or may not be connected with the college."
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
The District of Columbia and 27 other states exempt all Social Security benefits from income taxes.
Those states are: Alabama, Arizona, Arkansas, California, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Virginia, and Wisconsin. Iowa will phase out their tax on Social Security between 2007 and 2014.
In NY State, up to $20,000 of qualified private pensions for those 59½ and older are tax exempt. So in NY State... NO tax on SS... No tax on your first $20,000 of pension... and you don't have to live in Florida with all the geezers!
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Keep selling it, although 3.4 million people didn't hear you, maybe there will be a few people trapped here like prisoners who will.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Keep selling it, although 3.4 million people didn't hear you, maybe there will be a few people trapped here like prisoners who will.
I've lived for a short time in Floida, in Georgia, in South Carolina, North Carolina, Connecticut, and spent a few months in California.
The 6million acre Adirondack Park, Sacandaga Lake, Lake George, Gore Mt & Whiteface Mt are minutes away. There is nothing in Florida but Disney world, bugs, hot muggy weather, hurricanes and geezers. I much prefer this part of NY State.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Yeah, well it is nice you can afford to, being part of the one percent and all.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Yeah, well it is nice you can afford to, being part of the one percent and all.
Blue collar union worker... Hardly a 1%er.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Were you born this obnoxious Graham, or did you have to work on it?
Either way... you add little, and assume a lot.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Blue collar, overpaid union worker... Kinda a 1%er.
Fixed
"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
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