Wednesday, August 10, 2011

New Yorkers Fleeing State

Taxed-out New Yorkers are voting with their feet, with a staggering 1.6 million residents fleeing the state over the last decade.
For the second consecutive decade, New York led the nation in the percentage of residents leaving for other states, according to the report by the Empire Center for State Policy.
The population loss is "the ultimate barometer of New York's attractiveness as a place to work, live and do business," the report's co-author, E.J. McMahon, said. "It's the ultimate indication that we've been doing things wrong."
Most analysts blamed New York's high taxes and skyrocketing cost of living for the mass exodus.
The Tax Foundation ranked New York highest in the nation in the combined state and local tax burden in 2008. And as small-business lobbyist Mike Durant noted, New York has also "consistently ranked worst or in the top three worst in business climate. You can't suck every penny out of people and expect them to remain in New York."
Since 1960, New York has lost 7.3 million residents to other states -- a net loss of 2.5 million people after adding in an influx of 4.8 million new immigrants, the study found.
Overall, the state's population grew by 2 percent between 2000 and 2010, but that rate that fell far behind states with lower taxes, growing economies and warmer climates like Nevada, Florida and Arizona, the three fastest-growing states, according to The New York Post .

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