Bye, bye, New York!
President Trump has finally got tired of paying ultra-high city, state, and local taxes in New York, and on Friday, officially changed his permanent address from New York City to Palm Beach, Florida.
(Although President Trump announced his decision on Thursday, he filed the “declaration of domicile” papers last month on Oct 04, 2019)
1600 Pennsylvania Avenue, the White House, is the place I have come to love and will stay for, hopefully, another 5 years as we MAKE AMERICA GREAT AGAIN, but my family and I will be making Palm Beach, Florida, our Permanent Residence.President Donald Trump
I cherish New York, and the people of New York, and always will, but unfortunately, despite the fact that I pay millions of dollars in city, state and local taxes each year, I have been treated very badly by the political leaders of both the city and state. Few have been treated worse.
I hated having to make this decision, but in the end it will be best for all concerned. As President, I will always be there to help New York and the great people of New York. It will always have a special place in my heart!
President Trump is not an exception; he’s just one of many New Yorkers who decided to cut their ties with the Big Apple. An estimated 277 people are moving out of the New York City metro area every day (2018 Census data). Statistics provided by United Van Lines, the large moving truck company, which collects data on the flow of people, reports that the tri-state area in the Northeast — New Jersey, New York, and Connecticut — are amongst the top regions from which people are moving the fastest.
The New York metropolitan area is losing an economically productive population.
And taxpayers are replaced by tax users.
So, existing taxes keep going up. New taxes are being put in place (hello congestion pricing). The fees charged for the use of tunnels and bridges are rasing. The costs of doing business in the NY Metro area is steadily increasing. It looks like people running New York City want to chase taxpayers out when, at the same time, inviting people who more often than not won’t pay any taxes but will use available services and farther drain the city coffers.
If that trend doesn’t change, more and more companies will relocate to areas that are more business-friendly, taking their most valuable employees with them.
As a tax-paying entities leave, taxes will have to be raised to make up for the lost revenue. The higher taxes will force further businesses and people to move out, which in effect will push the tax revenue even lower.
Ultimately, the tax-paying base will be too small to support even the most essential city departments like NYPD, FDNY, and the layoffs will follow. Fewer police officers and firefighters translate into a less safe place to live, meaning that fewer people will want to live in New York, and they will move out. As more tax-paying entities will leave, taxes will have to be raised again…
So, Mr. President, step on it, I’m right behind you!
Thank You For Reading