The State Of New Jersey Just Signed Its Own Death Warrant

Authored by Simon Black via SovereignMan.com,

You would think New Jersey would have learned its lesson...

Two years ago, New Jersey’s richest resident – hedge fund billionaire David Tepper – decided to move himself and his business to Miami Beach.

Tepper, who personally earned more than $6 billion from 2012-2015, was tired of paying New Jersey’s top income-tax rate of 8.97% for the 20 years he lived there, in addition to the country’s highest property taxes, the estate tax and inheritance tax.

By moving to Florida, a state with ZERO income tax, Tepper stood to save hundreds of millions of dollars each year. And, as an added bonus, he’d be living in the Sunshine State.

Anyone with some common sense would have at least acknowledged the possibility that a guy like Tepper would consider moving to save a few hundred million bucks.

But New Jersey, content on milking its ultra-wealthy for tax revenue, was caught completely by surprise.

And Tepper’s departure left an enormous hole in its budget.

Think about that: the departure of literally ONE person caused big problems for New Jersey’s budget.

And Tepper wasn’t the only one leaving...

According to the New Jersey Business and Industry Association, the State of New Jersey lost a whopping 2 million residents between 2005 and 2014, earning a combined $18 billion in net adjusted gross income, i.e. income that would have been taxed by the state.

So it’s not just the masters of the universe that are tired of paying sky-high taxes. It’s also the regular wage earner and small business owner.

60% of these folks went to Florida, with a state income tax of zero.

So the message from New Jersey’s residents (well, now former residents) is pretty clear: taxes are too high.

Now, what do you think New Jersey is doing to solve this problem?

Instead of making the state friendlier to productive people and businesses, New Jersey decided to RAISE taxes on the sad saps that remain within its borders (for now).

New Jersey tax residents making more than $5 million will now pay 10.75%, up from 8.97%.

And the corporate rate on businesses with more than $1 million in net income increased from 9% to 11.5%.

(Proportionally, that’s a potentially 27% increase in the amount of tax a business might pay.)

The tax hike will give Jersey the fourth-highest marginal income tax rate on individuals and the second highest corporate rate after Iowa.

It’s the exact opposite of what New Jersey should have done.

Sadly, New Jersey is not alone in chasing away its citizens.

In the 12 months ended July 1, 2017, the State of New York lost a net 190,508 residents (bringing the total loss to 1 million people since 2010 – the largest of any state).

And people are likewise fleeing the People’s Republic of California– and its top marginal tax rate of 13.3%– in droves.

Lots of them are landing in Texas (another state with no income tax)… an average 60,000 Californians left for Texas every year from 2011 to 2015.

Any government trying to keep their productive, high-earning residents from leaving by raising taxes is absolutely foolish.

Paying zero state income tax is more attractive than paying any state income tax, much less an even higher state income tax like in New Jersey. Duh.

On the other hand, you have Puerto Rico…

In order to attract more productive residents, Puerto Rico enacted a number of incentives including Act 20 and Act 22, which allow eligible business to pay a 4% corporate tax rate and individuals to pay ZERO taxes on capital gains and dividends, respectively.

We recently hosted our Total Access members (our highest level of membership) at an event in San Juan. The Secretary of State, the Secretary of Economic Development and Commerce and several other top government officials spent the day with us.

You can read more about the event, and Puerto Rico’s incredible incentives, here.

(Puerto Rico’s incentives are enormous, so I strongly encourage you to consider the option. To give you an example, I will easily save more than $10 million in tax due to these incentives. And it’s all 100% legal.)

No surprise, these generous tax incentives are working.

The Secretary of Economic Development and Commerce told us tax incentive applications are up more than 100% year over year. And it’s just getting started.

Unfortunately, Puerto Rico’s stance is unusual.

The normal route, as we saw with New Jersey, is to keep squeezing until they’ve chased out all the taxpayers. Governments have done this for thousands of years, even before the Roman Empire.

But New Jersey will soon learn that its residents aren’t tied to the land like medieval serfs in the feudal system. Governments still have this antiquated view, but it’s no longer valid.

Americans who want to legally avoid state income tax can easily move to Florida, Texas, and the handful of other states with no state income tax.

And those who want to legally avoid federal income tax can move to Puerto Rico.

Most other nationalities, including Canadians, Brits, Australians, etc. can also legally avoid their home country’s income tax by relocating overseas to a place like Panama or BVI.

And given how interconnected the world is, relocation needn’t cause any significant problems for a business.

It’s 2018. Businesses can exist entirely online. You can earn your money while living in one place, servicing clients in another, and outsourcing to workers in another.

And, if need be, you can always get on a plane and find yourself on the other side of the planet tomorrow morning for a face-to-face meeting.

This is the world we live in. We’re no longer medieval serfs. We have options.

It’s pretty sad that Puerto Rico is one of the only places to have figured it out.

To be fair, Puerto Rico did have to hit rock bottom financially before making this drastic change.

But I’d guess that New Jersey won’t be far behind.

Comments

NidStyles VZ58 Fri, 07/06/2018 - 16:39 Permalink

Someone once told me I should stop collecting what I paid for. A week later another douche cost me my job, now I have no money because someone thought they were going to pimp me out like a gay prize to little homo black kids. 

Edit: I saw your response. You better check your attitude. I am not under your control. I don’t owe you anything.

That didn’t Venerate so well, and name dropping can start any day again. I played this game in another state and walked away running around doing what I wanted as a result.

Keep playing games and I will eventually find your bitch ass and take care of it myself Francis, and there’s no one out there that will stop me. 

 

This is your only warning.

Also, it’s past May now. You know what that means Schlomo.

 

In reply to by VZ58

NidStyles HopefulCynical Sat, 07/07/2018 - 21:34 Permalink

Just a friendly reminder, New Jersey is ran by Hasiadic Jews. They have their own official police force and are not beyond using open stalking and harassment to get their way.

There used to be videos of them walking around harassing people driving through where they all live, and they would go out of their way to make life hell for those that were not Jews around them. Gangstalking, street harassment everything I have experienceed in the past year.This all started in New Jersey with these Jews.

 

Just remember that the next time you call me a Jew.

 

No, I will not let it go. You stole from from me. Let me make it clear for you. You can not reason with me. You can not bribe me. I no longer need to pay to enter any territory, because it’s all mine already. You’re rules, throw them out with regards to me. I am not under your lodge.

 

This only ends one way. I get back what was taken from me. Keep your sharps and low class behavior to yourself. Go smoke Newport’s if you want them. I am not some street trash. 

You only have the single thing I want, and you already know what it is. I am sure you spent it on drugs like the junkies you are though.

 

Yes, I know who it was. No you’re not going to get anything from me. Check your entry rates before and after I posted, did they go up? I’ll be back bright and early tomorrow. I bet I draw more people than you do.

In reply to by HopefulCynical

bunnyswanson brushhog Sat, 07/07/2018 - 10:40 Permalink

Liberals like it in California.  They made it this way.  Why would they leave?  A 2nd home?  New job? Moving to a college?  Rich enough do move on a whim from one snazzy address to another no doubt.  Poor liberals are here for the $$$ generous state assistance.  Many say they will not move because their families are here.  Many oakies here in the valley whose families have been here for generations.  Some came and picked fruit, some bought and owned land and became rich, probably vote republican. There are, however, millions of republicans in the state.  It's very expensive to live here.  The liberals tend to be in the college towns, big cities.  The kids of the uberrich made looking like a bum trendy.  Republicans are being run out of town in some places by being refused jobs, fair deals (short changed), left out of the lines of communication for what is considered urgent information (ostracized).  It is happening. It is happening to me. It happened to many founding fathers - locally ruined.  OHio's James Trafficant and we have no choice but to leave; they won't stop until we are dead or gone.  I contacted Congressman Nunes for help.  Discrimination is not hidden but getting before a non-liberal judge seems unlikely.  So, I will leave my home of 20 years and get the hell out before I am too old.  

Racism is alive and well in California.  It is employed, organized, coordinated and white racism is celebrated like a winning tactic of war.  You will never see a starving migrant worker in California's central valley but you will see starving white people.  It's part of the plan to drive us out.  I am from Canada. Grew up in Pennsylvania, 30 years in Calif. More feel this way but we cannot talk about it.  It is dangerous.  Hate does not describe it.   California should be on the list for school field trips. It is being destroyed one small town at a time by racism - exclusion in HIspanic communities who refuse to work and live by us and use nasty tactics, never saw anyone lie so easily and convincingly.  Love is never going to grow under these circumstances.  Crowding us out is the plan and it is working. 

As a matter of fact, I just had my ass stomped by a 25 yr old Hispanic room mate and the cops shrugged.  My word against her whole family.  She did not pay rent, went grocery shopping for 4th party food and spent it and then flipped me off when I had to ask her for it, and then the fun began.  Knocked me over and began stepping on me like I was a bug while screaming insults.  Finlly got her out and she came back and did it again.  She is in the next room.  I have a hospital bill.  Cops are afraid of the Mexicans and so are the politicians.  Even the black community sees it for what it is.  We are being replaced.  It's a matter of numbers.  Now, I am going to be ripped off by some Hispanic real estate agent thanks to racism and the total fleecing will be complete.  I will die a broken woman.

In reply to by brushhog

bunnyswanson SaulRosenberg Sat, 07/07/2018 - 11:46 Permalink

After 2 days, I finally asked for it.  Tomorrow, she said.  Tomorrow came, and she was preparing for her party in my house.  I wanted to go to grocery store.  She said, tomorrow.  I said, that is not good enough.  She said her ATM machine yada yada yada.  She fled the conversation and walked into her bedroom and closed the door.  I kicked said door open. The conversation was not over.  Pay the rent or leave.  Those were the options.  I was in loan modification and she was well aware of the implications of that failing and darned if she did not say, "I hope you go into foreclosure."  I have done nothing to deserve this but stand up for what is right.  Your failure to understand why I insist on self preserverance in order for your agenda to succeed is only partially believable.  You know exactly what is going on.  You feed into it, cry WHITE SUPREMACY after begging for help with a bible of some sort in one hand and a knife in the other.  White genocide is underway, and it is a covert war with employed double agents, pushing the "lawmakers" to once and for all steal our world, the Rich Kids on the Block (US citizens) are unable to comprehend revenge or hateful envy disguised as a down-on-their-luck illegal immigrant.  Your agenda is of course to mongoloidize the masses, erase tradition/loyalty/loving families, you know, the things which keep a family/community strong but only of our race.  Thank Jewish scholars with much more wisdom that you for allowing me to understand = it's all about jealousy and greed, failure and revenge teaming up against the soft Americans while they are shopping, eating, or amusing themselves right into debt slaves. 

Calif is now a banana republic and if you are alone, without a family or witnesses, bad things can happen.  Pawn shops are out of cash due to buying up all the gold, and small change is hard to find, people will lie to get through the day.  These are nasty people, no class, many alcholics or drug addicts, behaviior issues, the entire town is teaming with thieves, they formed clubs, have meetings in the park to coordinate, know the cops by name.  Its a joke.  Normal people go to their job, church, kid events and don't peer into community, but like 5.6 million other Californians, we have to mingle at the clinic, grocerers, streets, jobs.  "She's white but she's nice" came out of the lips of a Mexican American coworker of mine in 1986 when describing her brother's girlfriend.

 

 

Ronald Reagan:  "

“You and I have a rendezvous with destiny. We will preserve for our children this, the last best hope of man on earth, or we will sentence them to take the first step into a thousand years of darkness. If we fail, at least let our children and our children’s children say of us we justified our brief moment here. We did all that could be done.”

Ronald Reagan, A Time for Choosing: The Speeches of Ronald Reagan, 1961-1982

 

In reply to by SaulRosenberg

Farqued Up brushhog Sat, 07/07/2018 - 14:11 Permalink

Too late Texas is already in debt more than the Commiefornicators per capita. However, no income tax can sorta justify it but not all.

The people need to pop them in the head before they are traumatized. Oh my, how can you say no to those altruistic politicians that can subsidize their bad habits and poor voters with YOUR money.

In reply to by brushhog

Nicholi_Hel GoHillary2016 Fri, 07/06/2018 - 21:30 Permalink

It must suck to be a butt hurt Bolshevik. All of your policies and leaders have been abject failures. Most are now really creepy, salacious old perverts like Bill Clinton. Then there is Hillary with her large, misshapen head and colostomy bag backpack. A genuine inspiration to mentally deranged, shrieking, Marxist, feminist cunts everywhere.  

Yeah GoHillary2016. What a fucking loser.

 

In reply to by GoHillary2016

DaiRR Nicholi_Hel Sun, 07/08/2018 - 00:35 Permalink

New Jersey is fertile ground to be depopulated.  It will happen sooner or later.  Higher taxes causing the populace to exit the state could very well be saving their lives.  Florida is equally or even more mega-disaster prone, so it doesn't have my vote as a long term domicile.  Be at least 3,000 feet above sea level.

In reply to by Nicholi_Hel

bunnyswanson GoHillary2016 Sat, 07/07/2018 - 11:04 Permalink

Flaccid eh.  Nation was taken by infiltration on local level, schools, churches, political parties and business leaders.  Taking it back will only require attending city council meetings.  Voting.  This is why blue states should not be abandoned - but entered and each town inspected closely for signs of corruption, kickbacks, intimidation, unfair business practices, racketeering (coordinated business corruption when targets are systemically bilked of their wealth in form of retaliation for some vote or stance).  We NEED SOME HELP HERE

In reply to by GoHillary2016

Farqued Up falconflight Sat, 07/07/2018 - 15:19 Permalink

You tell ‘em, Abraham was a loser MF that spawned Jews, Christians, Muslims, and the antithetical Luciferian/Satanist.

The Muslim antecedent, Ishmael, Isaac’s half brother was a product of ole Abe fucking his maid. I must concede that Christ may have been a Jew/Venusian hybrid originally from the Pleiades. Satan is a figment spawned from the envious Reptoids. The Khazarian Zionists are successful Gypsies from Babylon. IOW, we 🐝 fucked. We are in bad need of another couple of chromosome shunts to elevate our mental capacity to a much higher level and maybe insert some genetic bug juice to minimize our hostilities.

Anthropology is one more fake history compartmentalizing the truth from the people. Same with Einstein, physics and mathematics are compartmentalized to shield the real sciences from being gleaned by the people. Einstein’s Serbian wife did the equations while Squirrelly Al was fucking his young first cousin. Prick deserted his wife and son and took off to the City of Passion Pussyville, known now as Epstein Lolita Island. 

BTW, Homobama is the Queen of Voodoo and the other atheistic religious corporations you named are ALL members of the World Council of Churches, the lead communist big daddy of all.

It is Saturday afternoon, reward day, going to my fav Tex-Mex and have some steak tacos and top shelf margaritas, screw those 5 ⭐️ restaurants. Happy Independence wherever you are in this shrinking world!!

In reply to by falconflight