Decision 2020

Originally posted by: Don

Indeed.

 

And the migration continues.

 

Top States Folks Are Leaving from North American Moving Services with the [Tax Burden Rank] from Wallet Hub:

1. Illinois [#8]

2. California [#10]

3. New Jersey [#9]

 

And Top States Folks Are Moving to:

1. Idaho [#40]

2. Arizona [#31]

3. South Carolina [#39]

 

 


Yes, Its called "retirement".      And our babyboom generation has more people than Gen-X.

 

People who wish to earn income at a high paying job choose different states then people looking to play golf in retirement.     

 

If you want a white collar, 6-figure job you will have better luck in your first three states than in your latter.  And if you want low taxes with cheap housing you pick the oppositte.   

 

 

PJStroh states: "Its called "retirement".      And our babyboom generation has more people than Gen-X."

 

Hmm, . . . well, retirees are people too !  And DonDiego understands that retirees move for lots of reasons especially from States like Illinois.  

And alleviating one's tax burden is a factor when anyone departs one State for another; websites which provide advice on the relative merits of retiring in specific States inevitably include tax consequences.

(Poor old DonDiego himself has been visiting such sites in search of warmer/happier climes.  Some weeks ago DonDiego pointed out, f'rinstance, a retiree could live in Vancouver Washington and NOT pay income tax and shop in Portland Oregon and NOT pay sales tax. Sorta like a two-for.)

 

For a brief analysis suggesting it's more than just retirement which motivates departure from The Land of Lincoln especially DonDiego recommends Moody's advice to Governor Pritzker.

Edited on Feb 7, 2019 8:22am

Lookin' stuff up is cool.  Poor old DonDiego came across somebody's opinion regarding income tax generally: 

 

"If you’re someone who thinks the government should take an active role in shaping society, then you’ll probably agree that a state income tax is a good thing. It allows the state to redistribute wealth from rich to poor, and policymakers can use state tax incentives to encourage people to give to charities, buy solar panels or promote other initiatives.

If you think the government should stay out of the society-shaping business, or if you’re a higher-income earner, then you might very well be comfortable living in one of America’s nine no-income-tax states."

Ref: bankrate.com

Pj may want to look into why GE left Ct.


Yes - they picked up and moved to the red state of Massachusetts. 

 

There's a reason why Amazon put its second headquarters in New York City instead of Columbia, SC.     There's also a reason why grandpa picked Hilton Head as a retirement destination instead of Boston.   Some retirees even move to less developed countries (like Uruguay) where their meager life savings goes alot farther.  Good luck getting a high paying job there too.    

 

Workers and retirees have different criteria ....and we have the largest generation of retirees ever.    

Edited on Feb 8, 2019 6:59am

GE moves from the 44th worst state to the #25. 

 

Amazon moved to NYC because deblasio gave them an irresistible tax deal that has been highly criticized. 

 

So yes it is all about taxes. 

How is Amazon going to hire any highly educated workers if they are all fleeing the state as you claim?  Unless maybe those aren't the people leaving.    

 

Forbes gives you a list of best (and worst) states to land a high paying job....can you guess which ones made and didn't make the list?

The Gulf (golf) states dont fare to well 

You need a high paying job to pay for some of the most expensive real estate in the country,  $20k in real estate taxes if you own a home, $15 bridge tolls, one of the highest income tax rates in the country, above average fuel prices, even the Mickey D's dollar menu is more than a $1, $120 monthly subway, $300 commuter rail tickets for trains that don't work etc.

And why is that real estate so expensive?   Here's a hint - look up the phrase "supply and demand"....and then reconcile that with your narrative about people fleeing the state.

 

Yogi Bear (and Tom) - "Nobody goes there anymore, its too crowded."

Why can't pj acknowledge the fact that $20,000 real estate taxes, 9% sales tax, $15 bridge tolls & one of the highest income taxes in the country is a major factor in people leaving the area?

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