Code Red
About
WyBlog, the best thing about New Jersey since the invention of the 24 hour diner.
Chris Wysocki
Caldwell, NJ
The nine most terrifying words in the English language are "I'm from the government and I'm here to help." - Ronald Reagan
Subscribe
Recent Posts
Recent Comments (RSS)
Twitter Feed
Blogroll
Links
Linkiest
CH 2.0 Info Center
The Jersey Report
Labor Union Report
Memeorandum
Net Right Nation
The Patriot Post Newsletter
Pajamas Media
PJTV
Victor Davis Hanson
J! E! T! S! Jets! Jets! Jets!
OpenVMS.org Portal
AVS Forum
NJ.com Caldwell Forum
The Caldwells Patch
The Jersey Tomato Press
![[socia.list]](http://wyblog.us/images/socia_list-1-200x75.jpg)
Badges
Link to me
Feedjit
Search WyBlog
The Party of "No"
Fair Use Notice
"This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. It is being made available in an effort to advance the understanding of environmental, political, human rights, economic, democracy, scientific, social issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit for research and educational purposes."
Hey! I've moved to He's Pretty Fly For A Jersey Guy.
Please update your bookmarks. Thanks!
Tuesday, 18 March 2014
Born To Run: Rich people keep fleeing New Jersey's high taxes
Chris Christie's patented "Jersey Comeback" may need to be rebranded as a plea — "Come Back, please, and bring your money with you." Because despite his attempts to reduce our state's tax burden, the exodus of our wealthy residents continues to escalate.
New Jersey's high taxes may be costing the state billions of dollars a year in lost revenue as high-earning residents flee, according to a recent study.
The study, Exodus on the Parkway, was completed by Regent Atlantic last year but held for publication until after the November 2013 elections. The study stated it "intentionally" held its results "as 2014 is not an election year for state legislators" and it will "hopefully encourage a serious and objective dialogue aimed at addressing and solving the challenges that New Jersey currently faces."
The study shows the state has been steadily losing high-net-worth residents since 2004, when Democratic Gov. Jim McGreevey signed the millionaire's tax into law. The law raised the state income tax 41 percent on those earning $500,000 or more a year.
That millionaire's tax is still on the books. Oh sure, Chris Christie promised us a tax cut. Several times, actually. He just never bothered to deliver on it.
Meanwhile, the Democrats in our state legislature are scheming to double the gasoline tax. All while property taxes and death taxes remain sky high.
No wonder "tax migration" is on a lot of people's minds.
Alas, one can't just move away peacefully. You gotta pay the Exit Tax first. Because there's no way New Jersey can resist one last trick to separate us from our hard-earned money.
We can sweat it out in the streets of a runaway American dream. But champs
like us, baby we were born to run.
Posted at 15:29 by Chris Wysocki
[/nj_politics]
Comments | Perm Link |
Technorati Tags:
NJ-Politics
wealth
taxes
Chris-Christie
demographics
|
Tweet
| Previous: While you were sleeping this weekend Obama gave away the internet | Next: Not a smidgeon of curruption update: IRS guy has 20,000 sensitive files on his home PC |
| Main | |