{"id":370470,"date":"2025-11-11T01:36:25","date_gmt":"2025-11-11T01:36:25","guid":{"rendered":"https:\/\/www.europesays.com\/us\/370470\/"},"modified":"2025-11-11T01:36:25","modified_gmt":"2025-11-11T01:36:25","slug":"soaring-taxes-crime-cost-new-york-and-new-jersey-670-billion-and-rising","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/370470\/","title":{"rendered":"Soaring taxes, crime cost New York and New Jersey $670 billion \u2014 and rising"},"content":{"rendered":"

In the aftermath of an election where New Jersey chose to stay left and New York City opted to go farther left <\/a>\u2014 and one year before the Empire State faces its own choice \u2014 the wonks at the free-market-advocacy group Unleash Prosperity are out with a study that exposes the true depths of flight from high-tax states.<\/p>\n

It\u2019s not uncommon to look at the one-year losses and gains of income from internal migration such as taxpayers fleeing New York for Florida<\/a>, but that fails to capture the long-lasting impact: The migrant\u2019s income is lost (or gained) year after year for the rest of his or her life.<\/p>\n

This new report used Census and IRS data to calculate the\u00a0cumulative\u00a0impact; it finds that New York state has lost more than $500 billion in resident income over the past 10 years, while New Jersey has lost $170 billion.<\/p>\n<\/p>\n

Nearly 2 million New Yorkers have moved away this past last decade; New Jersey has lost 500,000 residents to other states.<\/p>\n

New York has lost the most income of any state \u2014 and only California and Illinois have lost more money than New Jersey.<\/p>\n

\t\t\tMore From\t\t\t\t\t\t\tPost Editorial Board<\/p>\n

The folks who\u2019ve fled (especially to low-tax Texas, Florida, Tennessee and so on) don\u2019t\u00a0spend\u00a0in New York or New Jersey, while the states lose billions in taxes.<\/p>\n

To be clear: It\u2019s not\u00a0just\u00a0taxes that push people to move away; rising crime and other sinking quality-of-life issues matter, too \u2014 but soaring taxes seem to go hand-in-hand with those other problems these days: Big government tends to be\u00a0failing\u00a0government, too.<\/p>\n<\/p>\n

That\u2019s likely why the exodus is far broader than just high-end earners, such that New York\u2019s likely to lose at least four House\u00a0seats after the 2030 Census<\/a> and New Jersey two more.\u00a0<\/p>\n

Economist Stephen Moore, one author of the Unleash Prosperity report, concludes: \u201cUnfortunately, Billy Joel had it right: in New York and New Jersey, folks aren\u2019t moving up, they\u2019re moving out.\u00a0One thing is for certain, any increase in tax rates on the rich could turn this outmigration into a stampede.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"In the aftermath of an election where New Jersey chose to stay left and New York City opted…\n","protected":false},"author":3,"featured_media":370471,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,4691,723,401,405,403,5226,5225,5228,5227,5341,1269,618,358,67,586,132,5230,68,2969],"class_list":{"0":"post-370470","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-editorial","10":"tag-florida","11":"tag-new-jersey","12":"tag-new-york","13":"tag-new-york-city","14":"tag-newyork","15":"tag-newyorkcity","16":"tag-ny","17":"tag-nyc","18":"tag-nyc-mayoral-election-2025","19":"tag-opinion","20":"tag-taxes","21":"tag-texas","22":"tag-united-states","23":"tag-united-states-of-america","24":"tag-unitedstates","25":"tag-unitedstatesofamerica","26":"tag-us","27":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115528504755975544","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/370470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=370470"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/370470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/370471"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=370470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=370470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=370470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}