| Well, the RESULT of such ridiculousness will be for people of high incomes TO MOVE OUT of New Jersey. Here is a good example, ME. I was going to move to OREGON. As I did my research everyone I spoke to I asked, WHAT IS THE PERSONAL TAX RATE, no one knew and everyone said its minor. So, I find a beautiful home for sale, we go to the closing, I am JUST ABOUT to sign the papers to buy it, and once more I say, "Its funny I cant find anyone who is familiar with Oregon personal income tax rates". The realtor pops up with I KNOW, and proceeds to tell me its 10 1/2% on all income. I put my pen down and say SORRY I cant afford to TITHE to a state. You see, in high tax states SALARIES are usually adjusted, but for retirees who live on investment income, no one is going to give me EXTRA money cause I was dumb enough to move to a state that would steal it. Here is what Oregon LOST. A couple (US) totally self dependent, requiring no government services, no child to educate and sufficiently wealthy to be expected to buy goods and services providing income to the residents. We are likely replaced by a low income couple with many children who wont have to pay that rate anyhow due to their income, but will cost the state PLENTY. jdn |
