Escape From...

The Wall Street Journal brings us a stark warning:

Between 2000 and 2008, the Empire State [New York] had a net domestic outflow of more than 1.5 million, the biggest exodus of any state, with most hailing from New York City. The departures also have perilous budget consequences, since they tend to include residents who are better off than those arriving. Statewide, departing families have income levels 13% higher than those moving in, while in New York County (home of Manhattan) the differential was even more severe. Those moving elsewhere had an average income of $93,264, some 28% higher than the $72,726 earned by those coming in.

In 2006 alone, that swap meant the state lost $4.3 billion in taxpayer income. Add that up from 2001 through 2008, and it translates into annual net income losses somewhere near $30 billion. That trend is part of a larger march for New York: In 1950 the state accounted for 19% of all Americans, but by 2000 that number had fallen to 7%.

Why do I bring this up? I'm sure you've already figured it out:

Liberals continue to insist that they can raise taxes ever higher without any effect on behavior, but the New York study is one more piece of evidence that this is a destructive illusion.

New York is an absolutely perfect example of what will happen if liberals succeed in raising taxes to where they want them - basically, as high as possible. While it may seem 'fair' to people with more ignorance than sense, it is the absolute worst possible thing this country can experience.

Right now, the top 1% of the nation pays 40% of all income taxes. The top 10% pays 71% of all income taxes. Those aren't the 'rich', either. The cutoff for the top 10% is just $113,000. That's your average dual-income family, give or take a little.

So, as tax rates skyrocket due to liberal policies, those at the very top with tons of money will leave. New York proves this beyond doubt. When the very top of the pyramid disappears, taking their 40% of all income taxes with them, what happens next? Everyone else who's left will suddenly have to make up that gigantic chunk of change.

Speaking of which, the only way to avoid this scenario from playing out right before our eyes is to force a change in the leadership in Washington. We're stuck with Obama for the next three years (though I seriously doubt he'll last beyond that, if things continue as they have over his first year), but the House and Senate can change dramatically in just one year.

Now that's some change I can get behind.

We may be able to escape from New York to another state with lower taxes right now, but if these liberals get their way, there will be no escape left in America.

There's my two cents.


Related Reading:
Who pays taxes (and how much) in 2007...and pie vs. flame