The wealthy exodus from high-tax states

The wealthy exodus from high-tax states


>>FREE TRADER LIKE ME. STUART: HE IS. DAVID, THANKS SO MUCH FOR JOINING US.>>ALWAYS A PLEASURE. STUART: THANK YOU. TO THE TAX PLAN, WHY NOT, HIGH-TAXED STATES ARE TAKING A BIG HIT UNDER THE NEW TAX LAW, WE ARE STARTING TO SEE SOME EVIDENCE OF THIS. CONDO SALES, MANHATTAN, DOWN 25% THE FIRST QUARTER THIS YEAR, THAT MEANS RICH FOLKS ARE NOT MOVING TO THESE HIGH-TAXED DEMOCRAT RUN STATES, WAIT TILL YOU HEAR HOW MANY PEOPLE ARE MOVING OUT. JOINING US DAN MITCHELL, IT’S A DOUBLE WHAMMY, ISN’T IT? THE RICH PEOPLE, THE 1% ARE NOT MOVING IN AND THOSE THAT ARE THERE ALREADY, A LOT OF THEM WILL MOVE OUT, AM I RIGHT?>>YOU’RE EXACTLY, RIGHT, STUART, THE WHOLE STORY IS SHOT ON STEROIDS FOR ME BECAUSE FOR YEARS WE HAVE SEEN THE TREND OF WELL-TO DO PEOPLE, SUCCESSFUL ENTREPRENEURS AND INVESTORS DECIDING IT’S NOT WORTH IT, THE AMOUNT OF TACKS I HAVE TO PAY TO LIVE IN NEW YORK CITY, TO LIVE IN CALIFORNIA, IT’S JUST NOT WORTH IT FOR ME. I WILL MOVE TO ZERO-INCOME TAX STATES LIKE FLORIDA AND TEXAS AND ELSEWHERE. BECAUSE OF TAX REFORM AND WE NO LONGER HAVE THE FEDERAL GOVERNMENT IN EFFECT SUBSIDIZE HIGH-TAXED STATES THE PROCESS IS CONTINUING. YOU KNOW WHAT I THINK IS STRONGER EVIDENCE THAN WHAT YOU CITED, LOOK IN NEW JERSEY, YOU HAVE A NEW HARD-CORE-LEFT-WING GOVERNOR WITH STATE LEGISLATOR THAT’S DOMINATED BY DEMOCRATS WHO ARE IN THE POCKETS OF THE PUBLIC EMPLOYEE UNION, EVEN THEY ARE GETTING SQUEAMISH ABOUT RAISING TAXES. THEY KNOW THAT THERE’S NOT A BERLIN WALL THAT TRAPS RICH PEOPLE IN THE STATE. THEY RAISE TAXES EVEN FURTHER, PEOPLE DISAPPEAR. STUART: BY THE WAY ON THAT NOTE, ON NEW JERSEY, I STUDIED JUST THE OTHER DAY AND QUOTED IT ON THE SHOW, 10.2% OF ALL NEW JERSEY HOUSEHOLDS, THAT’S ABOUT 300,000 HOUSEHOLDS WILL ACTUALLY PAY MORE IN TAX OVERALL BECAUSE OF THE NEW TAX PLAN, THEY ARE THE WORST-HIT STATE IN THE NATION, I SUSPECT THAT A LOT OF PEOPLE WILL MOVE AND I SUSPECT WE WILL SEE AN EXODUS FROM CALIFORNIA, NEW YORK, NEW JERSEY AND MAYBE ILLINOIS AS WELL.>>AGAIN, IT’S ALREADY BEEN HAPPENING BUT BEEN DRIBBLES. I THINK IT WILL ACCELERATE BECAUSE OF TAX REFORM PLAN AND I THINK THAT’S GOOD NEWS BECAUSE I WANT A STATE LIKE NEW JERSEY OR ILLINOIS TO REALIZE, OKAY, WE ARE GOING TO TRY TO JUST RAISE PEOPLE WITH HIGH TAXES, WE WILL SUFFER FEEDBACK EFFECT AND THAT’S THE ONLY THING AT TEND OF THE DAY THAT MIGHT ACTUALLY FORCE THE STATE GOVERNMENTS TO BECOME MORE RATIONAL. STUART: DO YOU THINK WE WILL EVER SEE THE DAY IN OUR LIFETIMES WHERE THESE HIGH-TAXED DEMOCRAT STATES ACTUALLY LOWER TAXES?>>THAT’S THE KEY QUESTION. YOU OUGHT TO HAVE A CONTEST, WHICH STATE WILL GO BANKRUPT FIRST, BECAUSE THEY DON’T DO THE THINGS THAT THEY ARE SUGGESTING, WILL IT BE, NEW YORK, CONNECTICUT, THEY HAVE HUGE UNFUNDED LIABILITY FOR THE GOVERNMENT WORKFORCE, THEY HAVE THE TAXES THAT ARE DRIVING OUT THE SUCCESSFUL PEOPLE THAT ARE PAYING BILLS IN THE STATE. THINK ABOUT IT, IN ILLINOIS, IN ALL LIKELIHOOD YOU WILL HAVE HARD-CORE-LEFT-WING GOVERNOR TAKE OVER THIS FALL MATCHING WHAT NEW JERSEY DID LAST FALL. SOME OF THE STATES, THEY ARE HEADING IN THE WRONG DIRECTION AND THE POLITICAL CLASS WANTS TO STEP ON THE ACCELERATOR AND THE QUESTION IS WILL THE RATIONAL LEFT, IF THERE’S SUCH A THING, WOULD THEY SAY BEHIND CLOSED DOORS, WE BETTER NOT DO BECAUSE THE GEESE WHO LAY THE GOLDEN EGGS, THEY WILL FLY AWAY. STUART FASCINATING QUESTION. WE HAVE TO FOLLOW THIS ONE VERY CLOSELY. I NEVER EXPECTED THE SALT PROVISION TO BE IN THE TAX REFORM BILL BUT THERE IT WAS AND THAT’S THE KILLER OF HIGH-TAXED –>>GREAT NEWS. STUART: FLAT OUT IS.

60 Comments

  1. Random Person says:

    The "rational left", if there is such a thing…

  2. Sheila Walker says:

    It might be a good thing
    To over populated
    They will not need that much tax money if no one there

  3. Rich Fish says:

    All the states you mentioned are already bankrupt

  4. ustedeslosricos ! says:

    Meanwhile Red States teachers are asking for a salary increase! Lol. Get back to work teachers! these are RIGHT TO WORK STATES! Lol. KANSA is bankrupt LMAO. So yes leave California please.

  5. MyUsernameIsGuess says:

    The Scumbag liberals are moving to lowtax conservative states and ruin them.

  6. Nogive Nogets says:

    The rational left in NJ is Steve Sweeney, I hope he can talk some sense into this new governor before he does permanent damage. Once the "Rich" & their jobs are gone, they're gone for good. Christy couldn't attract them with sweet deals, Murphy won't keep the few we have left with threats of raising their taxes.

  7. Dutch says:

    The flight only makes sense.

  8. MrPitbull says:

    Condo sales are down in nyc and u r saying they r going up where?in Montana , Nebraska, ND ….right?lmao…what a bunch of bs.if u wanna make a case for a tax cut do it properly my friend

  9. Karen Jo Cole says:

    Get out! We welcome you! America First #MAGA

  10. Chopper Morton says:

    GOD I LOVE EVERYTHING WHAT DONALD J. TRUMP HAS DONE THE PAST THREE YEARS!

  11. jules booth says:

    If you are stupid enough to keep voting for politicians to manage an economy you get all you deserve.

  12. mgtow Legion says:

    atlas will shrug!

  13. Richard Murray says:

    Since when is a rising deficit a sign of a healthy economy. The TRUMP RECESSION is coming.

  14. DaveBraga says:

    Per the gov't unions: "Our union voted ourselves big pay and bigger pensions, so you taxpayers owe it to us! We live in our own gov't economy – not the struggling real world. Too bad for you."

  15. Betsy Prince says:

    Where are the numbers? Are these just guesses?

  16. Betsy Prince says:

    Meanwhile Kansas was broke and Oklahoma has 4 day school weeks.

  17. Bronx Babe says:

    They messed up Seattle, Oregon, Texas, Nevada.stay in California keep your illegals.

  18. kittycat0876 says:

    Here in California it’s not just taxes it’s stupid laws ,codes, and rules

  19. D B says:

    Oh crap. Don't let those idiot democrats move to our state and ruin it. They are like locust destroying every state they touch.

  20. iamtheboxer says:

    Which state does someone recommend as a 'not so multi-cultural' state. I am sick of Canada and I like the way Trump does things. NOOOOOO way Im going to Calironia

  21. J D. TV says:

    The ad's are getting worse, F U Youtube & F U Liberals

  22. Russian Bot says:

    Yankees stay out of the South. You are not wanted.

  23. Glenn Heiselman says:

    Trump had better NOT bail out any damn demoncrat state; unless the entire state government steps down and turns over to Republicans.

  24. Vern Moline says:

    they will never lower their states tax

  25. Gerald Jyrkinen says:

    Amazima

  26. raginald7 Mars says:

    All the Poor flee to the Rich places – all the Rich flee from the Invasion of the Poor. Phase reversal…

  27. J Hendricks says:

    40 years ago I finished school in upstate N Y, quit my fine job and left because of 10% tax +. Now I try to find friends , former workers & classmates ?? They are all gone.. Nobody stayed in NY, they all left ?? NY taxed everybody ( with brains) out. The once beautiful state is now just a welfare camp. Industrial cities are just ghost towns. Nice place to visit, just don't stay there.

  28. Bill d says:

    High tax liberals keep getting elected in New Jersey, because New Jersey voters are happy.

  29. Edward Warwick says:

    No one who can read is moving into high tax states of California, Illinois, and New Jersey. Here come the tax increases. If you cannot leave, you are like the trapped former East Berlin residents who wanted to leave and could not get out.

  30. Perfect Weather says:

    After 4 plus Generations in Chicago my entire family including extended family has moved from IL in the last eight years. Aunts Uncles grandparents and now cousins all business owners who have moved to other states. My sister my uncle and my cousin still have businesses in chicago but no one will live there.

  31. Steve Sullivan says:

    Liberals base their perfect world on give always and heavy taxes,iam sorry there not libs their socialist.

  32. Loda Greenwood says:

    The man Donald is the greatest

  33. Sharralynn Pierce Woolworth says:

    Why is this a surprise?

  34. Catalyst - D B says:

    Just like a feminist, they only have as much power as you give them. Red exodus is long over due. Just Walk away. Live in a severely more tax friendly state, and leave the liberals behind to “their own devices” as the saying goes. The tax exodus is a form of MGTOW. Because democracy allows the freedom to choose. As a MGTOW or Red citizen we have the choice to move. Blue citizens may wish we didn’t have that choice so we’d have to be forced to put up with their laws but thankfully according to the constitution we have the freedom to not tolerate and put up with them. We are allowed to move. Thus the Red Tax exodus. ☺️ If taxes change again, move again. Simple. Not being a slave to the banks is paramount to financial freedom. Don’t let blue and their taxes take that from you.

  35. dick welch says:

    This may backfire on the Republicans because these are the same people who backed the lefties in California and hold the same stupid far left views. They will make Texas a blue state.

  36. Mike Christiansen says:

    you need to add minnesota to the list

  37. Old Seer says:

    Do the math. Globalism will never work, and it's the root cause this is all happening.

  38. Old Seer says:

    The states will have to get rid of illegal aliens first. That's what the taxes are for on the first count.

  39. robert cobianchi says:

    our nj gov. is an absolute fuc-ing idiot how this moron got in is just astounding if he thinks people are leaving this state just wait they haven't seen anything yet

  40. Joyce Chapman says:

    The government needs to stop giving them money as well. Let those states fail! I'd rather those states fail than for the country to fail if the Democrats get back into power. They will bring their laws to our country and the rich will leave and America will fall! We have to put a stop to this by voting Republican. Trump 20202!!!

  41. Reviews To The Point says:

    I'm not rich but if you greatly tax the rich they will leave that state. AND if they have business they will LEAVE that business which gets thousands out of work. I know-Let's highly tax the rich and then we will have more income. (Doesn't work that way)

  42. willard fillmore says:

    I'm moving out.. Sound familiar..??

  43. Dawn Remington says:

    There must be voter fraud. What citizen wants to live under these do-nothing, bloated Democrats who are stealing their citizen’s tax payments. These cities will become bankrupt soon, & none of these rotten, evil pig government supposed officials will get a dime. Why are people voting for them? There is something wrong with their voting systems, unless all the votes are coming from illegals & Muslims.

  44. Terry camp says:

    Sad thing is, these people that leave bring their ignorant liberal views with them, stupidity at its finest!!

  45. just a thought says:

    Kills the myth that the rich don't pay taxes because if they didn't you would not miss them when they leave . Wonder where the Democrats free stuff is gonna come from ????

  46. Marge Regan says:

    You are so right. I live in New Jersey and on my street alone 10 percent have sales signs on them. We have the highest property taxes and no end to it.

  47. James Peyton says:

    California has just accelerated their demise by giving free health care to illegals. The only people left in California will be billionaires and illegals.

  48. Jeannie Jeffery says:

    Don't forget Hawaii.

  49. Jun Espiritu says:

    The so called Democrat-Socialists who are pushing for "taxing the rich" to fund their proposed legislations should learn from this. The rich will just move out of this country and start their business elsewhere. Most of those millionaires/billionaires already have homes in other countries, so it is relatively easy for them to move. In the end, only the poor and middle class citizens will be left to deal with Bernie and AOC with their crazy ideas.

  50. virginia doan says:

    THE ONLY PROBLEM WITH AN EXODUS IS IF THEY TAKE THEIR LIBERAL IDEOLOGY WITH THEM.. I JUST HOPE WE KEEP OUR RED STATES RED. SCARES ME THEY MAY CHANGE THE CONSERVATIVE VALUES OF THE STATES THEY MOVE TO….HOPE THEY ALSO FIGURE OUT LIBERALS ARE THE PROBLEM…..

  51. Azfun6 says:

    That is and has always been the result of left wing nut sack leadership…..and we will use "leadership" very loosely. Throughout ALL recorded history, that is ALWAYS the end result of dumbascrap leadership….ALWAYS.

  52. Donnie Mullady says:

    This is a prelude for how socialism works.

  53. Jane B says:

    Your cutting your own throats.

  54. Thomas Jay says:

    Welcome to Nevada.

  55. Patriot says:

    Not me, I'm not moving out of California. I have my own spot for my tent on the sidewalk in downtown LA

  56. John Adan says:

    Totally agree rich people got money they can move anywhere, but when they move their money moves too….. less for the state less to create jobs and of corse a growing crime rate……

  57. Azfun6 says:

    That really sucks too….now these idiots are going to bring their stupid political beliefs to good states and ruin them.  You voted those idiots into office, you need to stay right there in the cesspool you created, leave the good states alone, we don't want you here.

  58. pranksterguy1 says:

    Wife & I bought hot dog & pop at Midway Airport recently. Sales tax? Over 10%!!!

  59. DarkTimber says:

    Democrats are dumb as rocks.

  60. James McSherry says:

    Question will people who leave high taxed states  VOTE for Democrats in their new state ? Florida is a example of millions who moved there yet why are still voting Democrat who are  close winning  every election their. Thus get same liberal policy's if get Democrat in control at state or national level.

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