ThatWhichisNotSeen

It's even more than that when you consider the cost of living difference.

But is it really worth it, compared to getting to sneer at other states as "flyover" states?

SimpleStacker

Kinda like Canada. Most provinces top out at north of 50% for highest marginal rate. Even Alberta and Saskatchewan are close to 50%

dgdhr335

It is ridiculously expensive.  I like it because it is where I was born. Y home. You have to be nuts to move here, though.

New York is pretty cool tho. Maybe I'll move there once I'm broke.

OriginalSize

If moving eliminates a 14.8% top state and local tax rate, our top-tier taxpayer gets a 36% raise, not a 14.8% raise, by leaving. It’s doubtful if any of our city and state leaders have done this math, but it’s shocking.

So, top-tier New York taxpayers may soon pay a marginal tax of 43% to the IRS and 17% to the city and state of New York

 rates mean they have the privilege of keeping 40 cents of each new dollar they earn. A move to 

one of the nine states with no income tax

 allows our taxpayer to keep 57% of every additional dollar of income, instead of 40%. 

Politics_And_Law

econ

>  If moving eliminates a 14.8% top state and local tax rate, our top-tier taxpayer gets a 36% raise, not a 14.8% raise, by leaving. It’s doubtful if any of our city and state leaders have done this math, but it’s shocking.


This is incredible:

>  **So, top-tier New York taxpayers may soon pay a marginal tax of 43% to the IRS and 17% to the city and state of New York**. The **combined 60% marginal tax** rates mean they have the privilege of keeping 40 cents of each new dollar they earn. A move to **one of the nine states with no income tax** allows our taxpayer to keep 57% of every additional dollar of income, instead of 40%. **Do the math. That’s a 42% raise.**