NY leads nation in tax exodus: $45.6B lost to other states

2

New York led the nation over the last decade in the exodus of people, a hit of $45.6 billion in personal income from New York’s economy, the national Tax Foundation found.

The report is similar to ones down by the Empire Center for New York State Policy, which has reported that New York is getting older and smaller.

California the second-largest income loser, down $29.4 billion, followed by Illinois, down $20.4 billion, according to the Tax Foundation, a business-backed conservative group.

The greatest beneficiary of the exodus from New York and other states have been, not surprisingly, Florida — followed by Arizona and Texas.

Migration-AGI-(large)

 

Share.

About Author

2 Comments

  1. HABIBHASAN-An American Storyteller on

    . . . Do you know what used to be Most Loved State of America The State of New York used to beccalled when America used to be America? ( Dr.House in an episode also sai ” this is not America anymore” ) And, since the Production is by “a KOUSIN” its on!

    But! If HABIBHASAN-An American Storyteller writes the same thing! That’s openly broadcasted lets ridicule him! That’s been a general patter whenever I wrote in The Journal News! Some KOUSIN attacked me!

    Anyways! In the West and Entire US New York was called. ” the Big Apple”! Even in Dinkins Time! But, since KOUSIN took the Major Offices, NY in The Western US is famous as ” . . .the Gutter of America”!

    And, read how many people are leaving and already left!
    COUMO is also My KOUSIN! . . . .that’s how it is working here! And, that’s all around you and me.

    Hey! They didn’t Spare Nixon! Who are You and Me?

  2. Here’s the reality… Under Cuomo NY has experienced the demise of 39,453 NY state businesses last year, Cuomo is raiding $1.75 billion from the reserves of the already over budget State Insurance Fund (SIF). Cuomo can not even hold on to his democratic majority which is in the middle of a corruption scandal with “show-me-the-money culture” and “pay-to-play politics” throughout Albany. Cuomo has disenfranchised the Northern and Western part of New York with his SAFE Act. Cuomo is afraid to take a stand and make a decision, either way with respect to fracking, gambling or abortions. No matter what your position is, Cuomo is leaving New Yorkers with no resolution to these issues or the ability to move forward. New York has the highest taxes in the nation, is the most indebted state, with 33 percent of income dedicated to borrowing. It is ranked as the least “business-friendly” state in the country and if that were not bad enough NY has the distinction of being the least free state in the union and is called the “Nanny State” with politicians legislating what we eat and drink. Municipal governments from Nassau County to Yonkers to Syracuse are teetering. And during Mr. Cuomo’s time in office, unemployment has risen above the national average. 9% of the state’s 2000 population left for another state between 2000 and 2011 — the highest such figure in the nation, see the study by George Mason’s independent libertarian-leaning Mercatus Center.

    NY State under Cuomo Governorship:
    570 jobs lost-Sikorsky Aircraft-closed
    174 jobs lost -Dal-Tile Corp-closed
    592 jobs lost- Archcare Inc-closing
    375 jobs lost- Ralcorp- closing 2 plants
    84 jobs lost- Vette Thermal Solutions – moving to NH
    350 jobs lost -Daikin McQuay-moving Auburn plant to Tennessee
    86 jobs lost-Oberdorfer foundry in DeWitt, NY is closing in May
    65 jobs lost – Advanced Monolythic Ceramics in Olean – moving to CA
    35 jobs lost-Bombardier Mass transit – closing
    50 jobs lost-Spectrum Plastics – closing
    160 jobs lost-Menands company (Albany International) – moving to NH by end of 2013
    700 jobs lost-IBM June 2013
    400 jobs Bausch & Lomb HQ leaving Rochester, NY
    untold jobs lost – Remington expanding $32m ammunition plant outside Cuomo’s business & 2nd Rights hostile NY
    100+ Jobs Kahr Firearms Group – heading to Pennsylvania to avoid business risks faced in NY under Cuomo