"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -- Theodore Roosevelt

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Thursday, August 22, 2013

Major Democratic States California, Illinois, New York "Hemorrhaging" Tax Dollars

And reason number 10,001 as to why I fled California...

From Walter Russell Mead's Blog:

Blue states like California and Illinois are struggling meeting obligations for their own public pension funds, so they certainly don’t need this latest bit of news—their tax bases are shrinking drastically. A new study on state-by-state income migration from the Tax Foundation (h/t WSJ), found that New York, California, and Illinois—the largest blue states in the country—led the country in income flight during the last decade. New York was hit particularly hard, losing $46 billion dollars of taxable income to people leaving the state over the past ten years. And these states were not alone: blue stalwarts like Maryland, New Jersey, and Massachusetts were not far behind. 
Red and purple destinations like Florida, Texas, Arizona and North Carolina led the pack of states benefiting from this migration, each gaining over $10 billion in taxable income due to new migrants from other states. Although the red/blue divide breaks down somewhat towards the middle of the group—red states like Louisiana saw some minor losses while blue states like Vermont enjoyed modest gains—the overall pattern is hard to miss.
Okay, so the Democrats' tax and spend strategies don't work. This has been known decades, but still we persist in putting people into government who steadily bankrupt the states. Just make a few promises, throw race into the mix, and make some moral appeal to help the poor by paying outrageous sums to bureaucrats and to politically connected non-profits. Oh, and throw in some major money into government workers pensions which is guaranteed to lose money exponentially. It's asinine.

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