Tag Archives: Income Tax

News

Residents of New York and California flee high taxes and regulations

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Here’s a funny story from the New York Post. (H/T National Review via ECM)

Excerpt:

On top of the city and state payroll tax, Social Security and Medicare [small-business owner John Logue] pays for employees, Logue said the city also hits him with a slew of permit fees. He recently had to pay $50 to obtain a certificate to collect sales taxes for the city and the state. In the past, it was free. He also pays the city to have a restaurant certificate, an exhaust-system permit and an illuminated-sign permit.

Logue said his [government-issued] water bills have also increased by nearly 50 percent in the last three years. Currently, he pays $1,600 every three months to the city.

“I’m getting to the point where I’m thinking about leaving New York,” he said.

And Kevin D. Williamson adds:

If you want to know where the future is headed, look where the people are going. And if you want to know where the people are going, check with U-Haul. Here’s an interesting indicator, first noted by the legendary economist Arthur Laffer: Renting a 26-foot U-Haul truck to go from Austin to San Francisco this July would cost you about $900.

Renting the same truck to go from San Francisco to Austin? About $3,000. In the great balance of supply and demand, California has a large supply of people who are demanding to move to Texas. There’s a reason for this.

Yes, prices rise when there is a high demand and supply is the same.

I once had a job interview at Fidelity in Boston, MA, and I remember going up the elevator with someone who commuted in every day from New Hampshire to avoid the taxes. And I remember thinking – this guy probably votes Democrat like everyone else in Boston.And shortly thereafter, New Hampshire turned blue and is now somewhere down in the gutter.

Why do Democrats do this to themselves? Anyway, the whole country will be like New York and California if more of these crappy bills pass, and where will we run to then? We’ll be stuck until the next election, and it serves us right. I think a good long period of suffering under Obama is just what we need to learn the importance of economics – the hard way.

News

Most productive workers fleeing high tax rates in New York state

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Story in the New York Post. (H/T ECM)

Excerpt:

More than 1.5 million state residents left for other parts of the United States from 2000 to 2008, according to the report from the Empire Center for New York State Policy. It was the biggest out-of-state migration in the country.

The vast majority of the migrants, 1.1 million, were former residents of New York City — meaning one out of seven city taxpayers moved out.

“The Empire State is being drained of an invaluable resource — people,” the report said.

What’s worse is that the families fleeing New York are being replaced by lower-income newcomers, who consequently pay less in taxes.

[…]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.

I am 100% certain that the Democrats in Albany had no idea that this would happen. Economics is not something that the left does really well.

News

Britain’s Office for National Statistics predicts looming demographics crisis

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Here’s an article from MercatorNet. (H/T ECM)

Excerpt:

Britain is bracing itself for the ageing of its population with the latest figures released by the Office for National Statistics (ONS) showing that the proportion of people aged over 65 is set to rise dramatically.

[…]The fastest growing age group has been been 85-and-over group –now referred to as the “oldest old”. This group has doubled to 1.3 million since the early ’80s;

By 2033 the number of people aged 85 and over is projected to more than double again to reach 3.2 million. It will grow to will account for five per cent of the total population;

The article is filled with statistics about the increasing number of retired seniors. In Western countries, seniors depend on the government social programs for pensions and health care. A lot of countries had a baby boom in the 50s and 60s so that a large number of of people are retiring. Unfortunately, due to feminism and the sexual revolution, the numbers of new workers has been decimated by hedonism, the breakdown of the family and abortion. So who is going to pay the income taxes needed to provide for the larger number of retirees?

Today, there just aren’t enough new workers to pay for all the social programs. Either the younger generation will have to be impoverished by high tax rates, or the older generation will have to be denied health care. In one sense this actually just, because the same generation of people that introduced their children to feminism is going to face the consequences of their worldviews. Young people were taught hedonism and that sex is recreational. Saving money and having children took a back seat to careers and having a good time here and now.

When a person expects to be taken care of by the government, they don’t save their own money and they worry about having more children to take care of them in their old age. The government started the whole wealth distribution game in order to equalize the life outcomes of people who worked and saved to pay for their own retirement and health care, with those who didn’t work and save. This caused those who were working and saving to slow down or stop, since it was now the government’s job to take care of people.

I also think it is interesting that the left-wingers who complained about “overpopulation” are going to finally find out exactly how badly they miscalculated. There is one group of people still having lots of babies. Muslims. And when they become the voting majority, a lot of multiculturalists will be surprised to see their liberties vanishing. In particular, special interest groups on the left, e.g. – feminists, will have their liberties curtailed. And so, feminism will have set in motion demographic forces that led to its own destruction.

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