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Having a bunch of (medicare-covered) retirees (with no school-age kids) spending their (taxable) social security income in NY / CA sounds pretty great. Much be
by exhilaration 4y ago
Having 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 4y ago[deleted]
- lotsofpulp 4y 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 4y 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 4y 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