MCViewPoint

Opinion from a Libertarian ViewPoint

The state of New Jersey just signed its own death warrant | The Daily Bell

Posted by Martin C. Fox on July 7, 2018

https://www.thedailybell.com/all-articles/news-analysis/the-state-of-new-jersey-just-signed-its-own-death-warrant/

By Simon Black

Via Sovereignman.com

You would think New Jersey would have learned its lesson…

Two years ago, New Jersey’s richest resident – hedge fund billionaire David Tepper – decided to move himself and his business to Miami Beach.

Tepper, who personally earned more than $6 billion from 2012-2015, was tired of paying New Jersey’s top income-tax rate of 8.97% for the 20 years he lived there, in addition to the country’s highest property taxes, the estate tax and inheritance tax.

By moving to Florida, a state with ZERO income tax, Tepper stood to save hundreds of millions of dollars each year. And, as an added bonus, he’d be living in the Sunshine State.

Anyone with some common sense would have at least acknowledged the possibility that a guy like Tepper would consider moving to save a few hundred million bucks.

But New Jersey, content on milking its ultra-wealthy for tax revenue, was caught completely by surprise.

And Tepper’s departure left an enormous hole in its budget.

Think about that: the departure of literally ONE person caused big problems for New Jersey’s budget.

And Tepper wasn’t the only one leaving…

Instead of making the state friendlier to productive people and businesses, New Jersey decided to RAISE taxes on the sad saps that remain within its borders (for now)…

Americans who want to legally avoid state income tax can easily move to Florida, Texas, and the handful of other states with no state income tax…

Be seeing you

tax crime

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