High Tax States Seeing an Exodus

Now that home-buying season is upon us, is it any wonder that high income tax states and property tax states are again seeing an exodus from the excessive burden? With the Jobs and Tax Cut Act — which rightly capped deductions of state and local taxes — some taxpayers are feeling a “disproportionate” share of cost as taxation is properly realigned. It’s no wonder that high tax states such as New York and California are being traded for places like Florida and Nevada. When lawmakers recklessly spend their constituents money and then finally have to reconcile it, taxpayers who are fed up with mismanagement are smart to seek refuge elsewhere.