Florida raking in billions as Americans abandon high-tax states

[Peter1469]

Florida raking in billions as Americans abandon high-tax states

How will the high-tax states react? Likely by raising taxes to make up for the shortfalls resulting from their wealthy moving out.

State governments can benefit greatly from an influx of movers – enjoying everything from increased tax revenues to new business activity.


Recently, changes to the U.S. tax code have encouraged an increasing number of people to move – taking their cash to lower-tax states like Florida.


As it turns out, however, Florida has been banking on moving trends even prior to the implementation of the new tax law.



According to a new study from LendingTree, which analyzed IRS data from 2016, Florida is the number one largest beneficiary from relocations out of all 50 states – by a landslide.


The Sunshine State drew in a net influx of about $17.7 billion in adjusted gross income (AGI) – most of which (72 percent) came from those aged 55 and older. It is consistently one of the most popular destinations for retirees due to affordability and low taxes.

[zachroidott]

But they have to live in FL.

[Newpublius]

But they have to live in FL.

#beautifulfla

Know what pays for my house in FL?

The taxes I'm NOT paying to NJ

[Ethereal]

But they have to live in FL.

Florida is pretty cool, despite some of the Floridiots who live there.

[Common]

It was in the paper that fla has 3400 people a day entering it to live. They predict 23 million floridians by 2023

Sounds like alot of people but considering at one time NYC alone had 10 million.

They are flocking out of the NE and dont think NY and NJ democrats arent quite worried over it. They know its all their tax base thats leaving. The ones they tell they are ENTITLED to everything free are staying put

[Common]

#beautifulfla

Know what pays for my house in FL?

The taxes I'm NOT paying to NJ

What you save in State Income tax, Property Tax, auto insurance and every other tax that NY and NJ slaps on ya it easily pays for your housing in fla

Democrat Politicians are just waking up to the exodus their policies caused but the exodus has been going on for 15 yrs

[bulletbob]

There is no state income tax in florida only sales tax.
The state has a good standard of living housing is a bit expensive for the south but compared to ny delware Jersey its a bargain.
Its got its problems bur overall its not a bad place. I like it except for summer high temps

[Tahuyaman]

Florida raking in billions as Americans abandon high-tax states

Will the high tax states led by unchecked liberalism get the picture? Probably not.

[Rationalist]

But they have to live in FL.

Very true. I'd take Wyoming or South Dakota over Florida for states that have no income tax.

Granted, a lot of people love beach weather.

[hellenas1]

I want it to stop. I can't even drive home. They are taking farm lands and making developments without rodes. It took me 30 minutes from a 5 min ride to get home today. I am sick of it.

Everyone it SICK OF IT!

We are also sick, of medically needy. We are also sick of deportation centers, we are also sick of rich - in florida - getting away with everything.

We are sick of it.

We are also sick of our homes being regulated as Tallahassee homes, that in a hurricane, ours are destroyed. We are also sick that Tallahassee takes MOST of our Central Florida Tax dollars for their ports, and ours get crumbs down south.

We are also sick...on our senors getting 15.00 food stamps per month, while others get 150.00 in Tallahassee.

I also hate, that Tallahassee refused duel language - like Montreal. We all speak Spanish-English.

I must agree. And I didn't when I first moved here....Florida needs to separate into 2 different states. From 1-4 corridor down.

Tallahassee hates that, because they get most revenue from Disney. We would get Disney. I didn't agree with it in the beginning, but after living here for 10 years, I am so sick and tired of our revenue going to Tallahassee, etc.

We want mono-rails, trains, etc. Tallahassee stops us. We are more. We are just sick and tired of it. That is the reality of Florida.