Wednesday, November 11, 2009

People moving from NYC

I have heard that people are leaving states with heavy tax burdens. I had not realized how big a migration was occuring.

Tax refugees staging escape from New York reports:

New Yorkers are fleeing the state and city in alarming numbers -- and costing a fortune in lost tax dollars, a new study shows.
More than 1.5 million state residents left for other parts of the United States from 2000 to 2008, according to the report from the Empire Center for New York State Policy. It was the biggest out-of-state migration in the country.
The vast majority of the migrants, 1.1 million, were former residents of New York City -- meaning one out of seven city taxpayers moved out.


That is a huge migration.

The internet allows people to do their job remotely. Currently the R&D group I work in has 200 people scattered across the world. We have two main groups in the US, a group in India, and a group in China. We have individuals in a dozen states and even some living in Europe.

Over time I think it will become even easier to move away from oppressive states.

Technorati tags: migration, taxes


Crimson Wife said...

It's slightly more complicated. New York has suffered primarily because of the collapse of the finance industry. Many of the ex-investment bankers we know who left New York took jobs in other high-tax states such as California and Massachusetts. The flight was driven by the poor job outlook in NYC not by the tax burden.

Monica said...

A bunch of millionaires disappeared from Maryland after they hiked taxes on the rich. *POP* Up they came in Pennsylvania.

People DO move for tax reasons. Not just in America,either. Over in the UK, most of the better 'football' players prefer to play for Spain because of the tax burden in the UK.

Henry Cate said...

I have wondered that if there will come a time when people will start moving from the United States because of heavy taxes.

Right now I don't see a country that is dramatically better.