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Escape from New York: Hedge Fund Millionaires Head for Florida

Written by Gary North on January 29, 2013

There is no state income tax in Florida.

Real estate is sand cheap. Buy a mansion for what a townhouse in New York City costs.

There is snow.

There are hurricanes. But you can get them in New York City, too.

Say that you earn $1,000,000 a year or more. Would you prefer to pay a state incomes tax in the 9% marginal tax rate? Or nothing?

It’s a no-brainer. People with brains are catching on.

The exodus of hedge fund managers has begun.

When will fund managers in California figure out that the same deal is available in  Nevada?

Washington State offers it, too. Live in Sequim, have great weather, and ignore Jerry Brown. Immigration problem? Only from Canada. It’s manageable. The Canucks flee across the border, get their surgery in far less than 18 months, and flee back. We buy Canadian drugs by mail. They rent our surgeons. Isn’t the free market grand?


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4 thoughts on “Escape from New York: Hedge Fund Millionaires Head for Florida

  1. Submariner says:

    Perhaps they choose not to register their "Assault Weapons" (what DHS calls "Personal Defense Weapons;DHS's include a 'group therapy switch' otherwise known as a full auto selector) and forfeit their 30-round magazines.

  2. No brainer here….Liberalism is a mental disorder…

  3. Another year of Obozo and why stop at Florida? You might want to look at moving Ecuador or Uruguay (or Atlantis). Ayn Rand's John Galt had the right idea. Eventually, only the takers will remain behind along with their crony-capitalist friends and totalitarian government. The producers will go where they will be able to produce in peace and enjoy the fruits of their labor. For what its worth!

  4. ex-ghetto Nurse says:

    Don't forget the quieter escapees, Health Care Professionals. Tired of 52 cents tax(es) on each dollar earned in the metro NYC area. Disgusted with third and fourth generation entitlement parasites (some are here legally) and their activists urging even more taxes to pay for them. Crime is down in general, but still astronomical compared to 'less diverse' warmer states.
    Our skills, abilities, and potential are welcome, as are our (albeit lower) tax revenues. Far better living at lower rates with a better class of patients (as opposed to 'clients')