Democrats always seem to assume that residents will just take a tax hike on the chin, but their plan is falling apart.
Several red states where there is no state income tax are welcoming with open arms those looking to leave their current locales.
To that point, New York stands to lose billions in income due to departures spurred by Zohran Mamdani's win in the New York City mayoral election.
Chairman and CEO of Starwood Capital Group, Barry Sternlicht, thinks the Mamdani win will crush New York City in terms of big-money salary earners leaving for greener pastures.
He stated, “Over $100 million, every project in New York has to go union, and it’s super expensive. It leads to extremely expensive housing. And other developers have tried to cut deals with the unions, but they rule New York, and that’s one of the key reasons the blue states are so expensive and they’re so difficult to add supply of housing to.”
Sternlicht continued, “And then the far left gets really nuts and says the tenants don’t have to pay. Well, you can’t kick them out if they don’t pay. So the neighbor finds out the neighbor isn’t paying, and they don’t pay, and the next guy doesn’t pay, and then you’re basically going to turn New York City into Mumbai.”
He later added, “That’s the number one thing. If people feel like their kids aren’t safe on the streets, they will pull them out of school and they will leave. And if he defunds the police or he doesn’t give them the honor and prestige they deserve, I think the city’s in for a really tough time.”
In Texas, I can tell you flat out that we are getting sick and tired of blue transplants coming here and trying to turn Texas into the same liberal havens from which they just escaped. These people seem to forget the reason they fled states like California and New York in the first place.
Florida, however, is still welcoming transplants with open arms.
Sheriff Mike Chitwood posted to Facebook, “If you’re an NYC resident or a great NYPD officer unhappy with the results of tonight’s Mayoral election, let me be the first to invite you into the welcoming arms of Volusia County.”
Some residents, however, disagreed with the invite, saying they had no room for any new arrivals and did not want liberal New Yorkers ruining their little slice of paradise.
A new report has been released showing that New York and New Jersey are already taking on serious water to the tune of hundreds of billions of dollars in lost income because of residents who have already left.
Unleash Prosperity’s report found that from 2013 to 2022, New York lost more than $500 billion in residential income, and New Jersey lost $170 billion during that same time frame.
Steve Moore, economist and co-founder of Unleash Prosperity stated, "New York and New Jersey combined have lost two-thirds of a trillion dollars in net income and purchasing power over the last decade due to moving vans departing these states.” He then added, "This has been one of the greatest wealth losses for one region in American history. New Jersey and New York are being bled to death by low tax states in the South.”
The very people they need to fund these radical programs are leaving in droves, doing so rather than facing an onslaught of taxes. In New York, the state income tax is as high as 10.9%, and in New Jersey, that tax is as high as 10.75%. On top of that, property taxes are often much higher in these states, so you are talking about adding tens of thousands of dollars to your bank account by simply picking up and moving to red states with no state income tax and lower property taxes. Yet, Democrats continue to target the very people who already pay most of the tax income in this country.
