New York City is a great place to visit and to live. It’s one of the top American cities which attracts millions of tourists per year. The Big Apple, in some ways, embodies what many others think of America.
But all that greatness may soon disappear as Gov. Paterson and the state legislature prepare to increase taxes, especially for those earning over $250,000 annually. Talk show giant Rush Limbaugh has already voiced his displeasure with this and contemplates relocating to Texas for a backup studio (he spends only a few days in NYC per year). The governor doesn’t seem to mind the negative publicity Limbaugh has inflicted on the city.
Does the governor think New York is so great that people simply won’t leave the state because of high taxes? Hopefully he knows that there are 49 other states competing against N.Y., and a few of them without state income taxes. When the wealthy decides to leave the state, they take with them not only the tax revenues, but also job creation and consumption power.
When the next election is up we’ll find out how Gov. Paterson fare with this move. My prediction: a new governor.
