4 ms·
You really think people are going to flee NYC and the large cities in CA over this?
by irrational 5y ago
You really think people are going to flee NYC and the large cities in CA over this?
- gleenn 5y agoAnecdata but I personally know more than a few people who moved to Nevada to avoid California taxes, so yes.
- colinmhayes 5y agoAnd I personally know more than a few people who have moved from flyover states to California. Goes both ways.
- lotsofpulp 5y agoThe relevant question would be the ratio of the movement of net payers to net benefit recipients into the system.
- mywittyname 5y agoOP sounds to be arguing the opposite. One lives in a low tax state while earning money / paying taxes, then retires to a rural part of NY / CA to receive tax-payer-backed benefits without paying for them.
- pkaye 5y agoRetirees usually use Medicare.
- exhilaration 5y agoHaving a bunch of (medicare-covered) retirees (with no school-age kids) spending their (taxable) social security income in NY / CA sounds pretty great. Much better than losing them to Florida or Arizona. Bonus if the states get to tax their estates in the end.
- deleted 5y ago[deleted]
- lotsofpulp 5y agoThe fact that they are Medicare covered means the retirees will choose to retire in lower tax jurisdictions. They do not need state governments to provide healthcare.
- mynameishere 5y agoI think he means people who have enough money at, say, 40 years old, to pay for everything but health insurance. I can see the temptation myself, since insurance as you get into your 50s can be 2000/month or more. If NY State pays that while I wait for Medicare to kick in, hey, FIRE!
- ceeplusplus 5y agoHalf of California's tax revenue comes from the top 1% [1]. Medicare retirees are almost guaranteed to not be part of that 1%. You're talking huge tax revenue losses here if the 1% do decide to leave. [1] https://lao.ca.gov/LAOEconTax/Article/Detail/7 https://lao.ca.gov/LAOEconTax/Article/Detail/7