October 27, 2009
Huh? Incentives Matter?
Instapundit continues his "going Galt" chronicles with some sobering statistics of NYC revenue.
The average Manhattan taxpayer who left the state earned $93,264 a year. The average newcomer to Manhattan earned only $72,726.That's a difference of $20,538, the highest for any county in the state. Staten Island was second, with a $20,066 difference.
It all adds up to staggering loss in taxable income. During 2006-2007, the "migration flow" out of New York to other states amounted to a loss of $4.3 billion.
If these guys won't see liberty and principles, they should at least consider the Laffer Curve. Economics and Markets Posted by John Kranz at October 27, 2009 11:05 AM
It's tempered a bit by the probability that some of those New Yorkers retired and moved to Florida, so I'd be curious to see how many left the state and kept working in their new state. But overall, I can personally assure you that it's too true.
Westchester is ridiculous with all the tax increases, but there's no way in hell I'd live in any of the boroughs. Were it not for a couple of things, we'd have moved to Connecticut by now, maybe Nassau County (except the LIRR sucketh rocks). As if either were significantly better, though? It's a matter of going to where the water isn't boiling...not yet.
And to hell with New Jersey, that cesspool.
Posted by: Perry Eidelbus at October 27, 2009 12:23 PMOld country song had it: "'T' for Texas, 'T' for Tennessee."
At least New York was always bad (well, since John Jay died...) Here in Colorado we have to watch a low-tax, high freedom state being dismantled in front of our eyes.
Posted by: jk at October 27, 2009 1:00 PMChin up JK, Colorado still rocks, and the property taxes have the east coast beat by a mile. We can sink quite a ways and still not be in their league. There is a beautiful snow falling tonight and the girls are warm in their beds hoping madly for a snow day tomorrow. Perry, you don't know what you are missing. I did my time in Jersey, 6 months was enough even if Westfield was an OK town. My wife worked on Wall Street (for AIG even, just to get the dirty laundry fully out) and hated the train and subway ride to the World Trade Center (RIP).
Posted by: Silence Dogood at October 28, 2009 12:11 AMI don't give Governor Ritter and the all-Democratic bicameral legislature credit for the climate, which is so perfect, I will never leave. (Yes, in spite of the green jobs initiative, I still consider that supra-government!)
On the dark side, Silence, we don't have the money to pay prison guards but we're building light rail. But hay, maybe your wife can learn to hate the public transportation here in a couple of years.
Posted by: jk at October 28, 2009 11:55 AMI lived in Utah for 14 years, so I know how nice and inexpensive the Intermountain West can be. But my job is here, and I like where I live, so thus far it's worth it to put up with the politics.
It was also worth it for American colonists to put up with British policies until 1775. They did more than shrug.
Posted by: Perry Eidelbus at October 28, 2009 2:50 PM | What do you think? [5]