Democrat Greed Drives Exodus From Blue States
In case anyone didn’t understand, JPMorgan Chase CEO Jamie Dimon explains why even many liberals want out of states run by liberals. Via Realtor.com:
Dimon said that high taxes and a declining quality of life are key factors pushing residents and businesses out of Democratic-led states.
“I tell people everyone’s got to compete, including cities, and for a city to compete, of course it’s quality of life. It’s your subways. It’s your hospitals,” Dimon said. “But it’s also individual taxes, state taxes, corporate taxes, and it drives people out.”
Washington State is a case in point. Via Seattle Red:
Washington lost half a billion dollars in adjusted gross income to out-migration between 2022 and 2023, right as the state’s capital gains tax was being implemented…
The capital gains tax was supposed to be the line. Democrats held it. Then they passed a 9.9 percent income tax on earnings over one million dollars anyway, and the departure announcements started stacking up within hours.
Even woke Starbucks founder Howard Schultz has bailed out for Florida.
Adam Wright, Vice President of Finance and Accounting at Pacific Rim Land, Inc., posted on LinkedIn that the entire revenue projection for the income tax rests on an assumption already collapsing in real time. When high earners leave, Wright noted, they do not just take their tax payments with them. They take businesses, investments, and jobs.
From the Democrat viewpoint, this is not a bug but a feature. By driving out not only the most productive citizens but also opportunities for others to succeed, they can send a jurisdiction into the Democrat Death Spiral, by which ever more liberal government increasingly drives out everyone but welfare-dependent losers likely to vote for ever more liberal government, creating single party rule.
This maelstrom of moonbattery laid waste to our former wealthiest city Detroit. It is currently destroying cities like Chicago and whole states like California and New York.
On tips from DCGere and Anonymous.
The post Democrat Greed Drives Exodus From Blue States appeared first on Moonbattery.
Source: https://moonbattery.com/democrat-greed-drives-exodus-from-blue-states/
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