Tax refugees staging escape from New York

[w¡n9Nµ7 §£@¥€r 123]

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.

...

What's worse is that the families fleeing New York are being replaced by lower-income newcomers, who consequently pay less in taxes.

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The average Manhattan taxpayer who left the state earned $93,264 a year. The average newcomer to Manhattan earned only $72,726.

That's a difference of $20,538, the highest for any county in the state. Staten Island was second, with a $20,066 difference.

It all adds up to staggering loss in taxable income. During 2006-2007, the "migration flow" out of New York to other states amounted to a loss of $4.3 billion.

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While New York City and the state were the losers, the Sunshine and Garden States were winners. more than 250,000 New Yorkers who lived in and around the city fled to Florida. Another 172,000 city taxpayers ended up in New Jersey.

http://www.nypost.com/p/news/local/tax_ref...71UXIc0i6cd3UpK

[Joseph & Ana 0]

Yeah raising taxes is great.. People will stay and willingly pay it..

[w¡n9Nµ7 §£@¥€r 123]

Yeah raising taxes is great.. People will stay and willingly pay it..

Well, look at the migration patterns. Florida and NJ. More likely than not, FL is getting the retirees and NJ is getting everyone else. Guess what happens when you live in NJ and work in Manhattan? You still pay Manhattan taxes

[Joseph & Ana 0]

Yeah raising taxes is great.. People will stay and willingly pay it..

Well, look at the migration patterns. Florida and NJ. More likely than not, FL is getting the retirees and NJ is getting everyone else. Guess what happens when you live in NJ and work in Manhattan? You still pay Manhattan taxes

Thats assuming they're still working there.

[w¡n9Nµ7 §£@¥€r 123]

Yeah raising taxes is great.. People will stay and willingly pay it..

Well, look at the migration patterns. Florida and NJ. More likely than not, FL is getting the retirees and NJ is getting everyone else. Guess what happens when you live in NJ and work in Manhattan? You still pay Manhattan taxes

Thats assuming they're still working there.

If you knew how the labor market in this area is structured, you'd know that more likely than not, they do.

[Trumplestiltskin 5,791]

Its similar to London - salaries are better in the city, but its a lot cheaper to live outside. Only the fabulously rich live in NYC, or low-wage people who don't mind sharing a bedsit.

[w¡n9Nµ7 §£@¥€r 123]

Exactly.