Fmr. Obama Treasury Official Rattner: Trend of People Leaving ‘High-Tax’ States Like NY Is ‘Very Sca

…Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, stated that the trend of people moving from “high-tax states” like California, New York, and Illinois to “lower-tax states” like Florida, Texas, Utah, Montana, and South Dakota “is a very scary trend for those of us who live in New York.” And New York may need to take “a harsher, tougher look at where we spend our money.” But, unfortunately, it’s “heading in the wrong direction” and things will get so bad that they reach a critical mass.

Rattner said, “I can tell you some things that are not going to be surprising, given everything we just talked about. Now, this is 2020 to 2022. So, we have population data for the last two years, we don’t have income data yet. And what you can see, again, not surprisingly, California, Illinois, New York rank among the bottom five states in terms of outward migration…


…And, at some point, it gets so bad that there has to be a fix, but right now, we are still heading in the wrong direction.”

Rattner concluded that he thinks when we get tax data for 2021 and 2022, it will be “even worse.”








Read more news: https://www.breitbart.com/clips/202...s-very-scary-for-ny-ny-needs-to-cut-spending/








This news report covering what a former obama official said to MSNBC news is very interesting. It is confirmation from one in the know as to what we suspected all along. Big high tax blue states are hemorrhaging people to low tax red ones and taking their tax dollars with them.

 

The exodus of conservatives from the working and middle classes from high tax and housing cost blue states to low tax and housing cost red ones.

 

Funny thing is most dems would agree with you. But also understand that people don't migrate to low tax states, companies do, and the people moving to those states is an ancillary effect of that. But make no mistake, when states like Texas start lowering corporate taxes to get companies to move there, they aren't loosing that tax revenue, they are just moving the tax burdon to the employees of those companies, thus, high taxes for workers will eventually follow. Those taxes come in the form of consumption taxes, and residential property taxes. SOMEBODY gets to pay for the roads, sanitation, infrastructure etc. I have said since day one in Texas that zero corporate tax is good for the company, but someone gets to pay for the roads and services those companies use.

I live in Iowa and we have done the same thing here to get business to move to my suburb. We have woo'd many large corporations here, who pay ZERO taxes, yet my property tax has almost doubled in the last 10 years. We now have an excise tax to allow Microsoft to build a data center here in my city, we also have Meta, and Apple building data centers here. They all get zero tax, and we get to foot the bill. Each of those billion dollar data centers got short term construction workers, but long term they will employ less than 50 people each. So for about 200 permanent jobs over 20 years, those data centers will pay ZERO tax, and homeowners will pay the hundreds of millions for the infrastructure required for them (roads, sewer, water, electric etc).

 

New York continues to lead nation in population loss as Florida, Texas gain

ALBANY — New York saw the steepest population decline in the nation over a one-year period ending in July, according to new data from the U.S. Census Bureau.

The wave of departures is continuing a pandemic-era trend that has also shaped political arguments on the best policies for the future of the state, including how to stem the mass exodus.


Woke exodus! California and New York have each lost more than half a MILLION residents since April 2020 - as people flee due to surging home prices and out-of-control crime

• Democrat strongholds each shed upward of 500,000 residents in just two years

• Soaring rents, crime rates and high taxes have contributed to the mass exodus

• City and state administrations refuse to meaningfully combat the issues

• Texas and Florida have gained the most new residents in the same time period

 

Sometimes you just have to ask, nay, demand to know where the money is going. Illinois and New York are known for their corruption with politicians, friends of politicians, donors of politicians and unions.

In democrat strongholds the light at the end of the tunnel is usually a train coming right at them. But thanks to DeSantis and Abbott help is on the way. With their shipments of illegals to these states, I’m sure, because I’ve been promised this by liberals, their economies will greatly improve plus they’ll benefit of having their horrible crime rates lowered.

 

I'm not sure I entirely agree with what you said. If 100 people move to Texas then they're paying taxes in Texas and the more the merrier.

Now regarding luring companies to move to an area citing tax breaks, yeah, that can be costly and a mistake if the return on investment isn't calculated right. In your example, if those three companies have a lot of employees making good money, then it could be worth it. But a data center with 50 employees seems like a rip off unless there's something going on that we don't know.

I'm originally from NJ, 20 minutes from Giant Stadium or whatever it's called now. They tore down that stadium before it was even paid off and built a new one. I've always wondered if NJ benefited from doing that and how much?

Edit: We all know many companies got tax breaks to set up shop in particular locations. What usually happens is support businesses then open up like diners, stores, etc. Then when everything is established years later, the people who run those stores and diners and who exist because of the big companies complain about them not paying their fair share.

 

Why is this a scary trend for folks that live in New York?

 

Yes, as the demographics change. Texas and Florida will become bluer and bluer.

 

And proportionately Idaho, Montana, Utah, and South Dakota have received such refugees from blue states. Some red counties in California gain population from the other parts of it from people who for personal or business reasons need to be on the west coast but want a better local environment, good schools, and nice parks and trails, and a house with a nice backyard.

 

Actually Florida is moving more red and the change of rural Hispanics to the GOP will dash any such blue trend in Texas.

 

The makers are moving out and the takers are moving in. Who less makers, who's going to pay for the takers?

 

When you notice the lack of sufficient tax revenues to support current budget priorities you will figure it out…people who leave take their business and it’s tax dollars with them and others pay taxes from their new jobs to their new state and not to NY.

 

...

 

So, what is your issue? You don't want to share your own back yard? Or are you just saying that paying your fair share for economic impromvent is the bridge too far?

 

Now that's some exaggerated math there

For starters, Biden will along with all American tax payers will help you with new roads with the recent infrastructure bill that's gone in to effect Jan 1

 

The old adage that its all great until the money runs out.... Democrats never learn.

 

Sadly that sort of worry is about to vanish with the dinosaurs.. Digital dollar will be as simple as adding ZERO's

How much you need
1,000000000000000000000000000000000000000000000000000000000000000000 more?
1,000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

 

The real issue will be when suddenly, your government doesn't decide that you need any of it anymore because you chose to disagree with said government....

 

I give up. Who?

 

ESG man, get on board the DNC prejudice wagon or you go NO WHERE in life

 

Same people that have always carried the *Coughs* less motivated

 

Ask anyone who has either been to, or is from China how this works.... And suddenly, you're know why democrats want this.

 

No idea what you are talking about.

 

Clearly the country is moving towards a culture the DNC admire the most I wonder who will go the way of Uyghurs here

 

You'll have to live up to your name, that's the best answer and advice I can offer you Bro