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Yep, I think the census next year is going to hit some states hard, losing both residents, federal funds and seats. United Van Lines did a study and NJ was the
by Keverw 7y ago
Yep, I think the census next year is going to hit some states hard, losing both residents, federal funds and seats. United Van Lines did a study and NJ was the top moved out state.
Not sure how you can compete with Florida though, when your state has high taxes and it's cold. If they make infomercials for both Florida and NJ or even OH... Obviously Florida would be the better choice. Warmer, less taxes, friendlier to businesses, world class cities, the top theme parks in the world, if you want to go on a cruise not that far from a port... and plus residents get discounts on theme parks even cruises. Then from my impression of places like NJ or NY people always seem in a hurry and sometimes even rude. While it seems like people from FL are more relaxed and happier.
Plus since things are less industrial and more tech or done remotely it's easy to get up and leave than before. Got a hedge fund? Relocate to FL and then fire anyone that doesn't want to move with you. Miami sounds more appealing than Wall St. to some of the change makers, plus with the wealth tax idea that's being pushed and other stuff, what's the incentive to stay when you can vote with your feet? Plus it's not like New York is it's own country, so citizens there have 49 other choices they can move to.
There was a recycling plant that had trouble getting approved in Los Angeles, even 10 years later. They relocated to Arizona and got approved in a single day. I think more people and companies should do that. Let these states lose out and fail, the states that make things better and easier will win. There CEO had much more patience than I'd have if things were moving that slow. Uhaul trucks leaving California cost more than heading back to California. So I think people are getting sick of states, and cities especially when they quit listening to people. California lessen the punishment for stealing, so more stores are being stolen from too sadly. Also they are tough on truck drivers, so some drivers rather just avoid California completely.
- cnst 7y agoI've talked to a partner at an IP law firm in Austin, Texas. They do a lot of business with the tech companies like Amazon, and wanted to hire a new attorney based in SV, since most of their work is done remotely with the SV office of Amazon, even though there's a local Amazon office down the street in Austin, too. Well, it turns out, if they'd have done so, they'd be required to pay taxes on the income of their whole partnership from most of their clients, because most of the companies they do business with are based in Cali, even though all the rest of their lawyers are based in Texas. Guess how they decided to proceed after receiving such advice from the state?
- novok 7y agoI could forsee an outgoing pension tax. If you live in an income tax state, then you get a state tax credit for the amount, otherwise NJ collects the NJ state tax rate on pensions coming out of the state of NJ.
- Keverw 7y agoLooks like states can only tax the pension of people who live in their state. So work all your life in New York, earn a nice pension then move to Florida to retire then New York can no longer tax your pension. https://finance.zacks.com/pay-taxes-pensions-state-retired-state-living-in-8131.html https://finance.zacks.com/pay-taxes-pensions-state-retired-s...