Democrats in high-tax states trying to prevent the exodus of the rich

Democrats in high-tax states trying to prevent the exodus of the rich
Democrats in high-tax states trying to prevent the exodus of the rich
What’S this Democrats trying to help the 1 % the left having bad for donkeys? This does require some explanation. Democrats in California and New Jersey want to convert state and local taxes into charitable contributions. That’S a switch under the new tax law, local fully deductible. So in high-tax States, like California, New Jersey, the one percent will be paying a whole lot more open before in Maryland, the state impose the millionaires tax. Many of those millionaires promptly left Maryland lost money. It’S not the Democrats. Only love California gets almost half its income tax revenue from its high income earners. If even a few of them leave. California takes a huge financial hit presence. How about Florida and Texas no state income taxes there either there is. This is what what is the Democrats have been running High tax states for years, The Exodus of the rich there answer the problem: Shirley apply highly unlikely to be converted into a charitable gift. Ain’T going to happen bottom line off stuck. Never ever do that. The Exodus of the 1 % has already started looks like will become a stampede
FBN’s Stuart Varney on what Democrats in high-tax states are doing to prevent wealthy residents from moving to states with no income tax.

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