New York Death Spiral – Even Trump Is Leaving

 In Politics

Florida Senator Rick Scott told Fox Business that the New York ‘Death Spiral’ is because of high taxes. As New York state and the city of New York raise taxes even higher, the wealthiest people are leaving in droves…which means the middle class is left to shoulder the weight. And now even President Trump has left NY in favor of Florida.

Trump moved his primary residence to Palm Beach, Florida, after stating that he paid millions in taxes to the State of New York. As other wealthy Americans flee the state (not to mention their screaming left wing politics),  New York truly is in a “death spiral.”

“Data from the U.S. Census Bureau showed that while Florida received more movers than any other state last year, New York’s outflows to the Sunshine State were the highest – 63,772 people. New York had the third-largest outflows of any state, with 452,580 people moving out within the past year.

Cuomo lamented changes to the cap on state and local tax deductions, crediting the provision of the Tax Cuts and Jobs Act — and resultant exodus of taxpayers — in part for the state’s $2.3 billion budget hole earlier this year.

Individuals earning $650,000 can save more than $69,700 in taxes per year by moving from New York to Florida.” Fox Business

New York death spiralAs we know, California has also dug itself an enormous hole. As Liberals clamp down on the wealthiest of Americans, the idea of “freedom” becomes less and less likely in those states. California is bleeding citizens, as is New York. While Florida is happy about that, some Western States aren’t thrilled because the people who move tend to bring bad policies with them.

Featured photo: New York City Screenshot via Motley Fool


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