Tax Lawyer's Blog

Bill Bradley (not the ex-Knick hoopster) of the Sacremento Bee says that sports franchises in low tax states like Florida and Texas have a decided edge in signing big ticket free agents:

This means that if Lebron James signs a five year deal for $100,000,000 with the Miami Heat instead of the New York Knicks, he will save approximately $13,000,000.

Now, tell me, where would you go?

This is yet another example of why rich folks all over the country are considering moving to low tax states like Florida.¹

And guess what, when they move here they create employment, add mightily to our gross state product and enhance our prestige.

Perhaps, instead of clamoring to raise federal taxes on the rich, we should make them tax exempt. Think of all of the mega-wealthy job creators who will return to the U.S. if we did that?

In any case, we Floridians are perfectly content to let those blue “soak-the-rich” staters continue to bite the hands that feed them while we reap the sweet and substantial benefits of wealth flight.

Pete Seeger, one of the left’s all time collectivist darlings, although he was talking about regular war and not class war, said it best:

When will they ever learn?

Footnotes:

¹  To give you an idea of how moronic the blue state class warfarists are, consider that all the rich need do to substantially reduce their tax liability is move to another state. This is not the major inconvenience that, say, being forced to move to another country is. For the benefit of the tax-the-rich crowd I will state the obvious: People are less likely to leave their country to save taxes than they are to relocate to another state to save taxes.

Expatriating is a major inconvenience as it requires acclimation to a new culture, the learning of a new language, the obtainment of a passport and visa and the loss of the privilege of citizenship. Changing states merely requires a big truck.

I like to think of this silliness as a kind of reverse Field of Dreams:

If you tax them, they will leave.

Related Posts:

• Wealth Flight Goes National
• Rich Folks Flee Maryland, Say Goodbye to High Taxes
• High Taxes Cause New Yorkers too Flee
• Michael Caine to Move to America if Brit Tax Rates Goes to 51%
• Phantom of the Opera Composer Andrew Lloyd Weber Opposes High U.K. Taxes

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