This ARTICLE On Florida Is Raking In Billions By Welcoming Residents Of High Tax States Was PUBLISHED On August 11th, 2019
Why are states like Illinois and New York on the verge of bankruptcy while Florida is raking in billions in revenues?
- Let’s take Illinois for an example the new Illinois governor
- JB Pritzker is the newly elected Illinois Governor of Illinois
- Since taking office a few months ago, he seems to have a solution to Illinois’ financial crisis
- JB Pritzker’s solution is raising taxes to solve the state’s financial mess
- JB Pritzker’s tax increases are proving to be very unpopular
- His poll numbers have sunk to a historical low out of any Illinois Governor in history
- Many Illinois residents are having second thoughts of electing JB Pritzker
- The general consensus is he does not know what he is doing to being an incompetent clueless leader
- Pritzker’s tax increases are forcing many residents of Illinois to move to lower-taxed states like Indiana
- Illinois’ high taxes is also forcing many businesses to move out of state
- Pritzker just doubled the Illinois gas tax where it is hurting countless gas stations that are located on the border
In this article, we will cover and discuss how Florida Is Raking In Billions By Welcoming Residents Of High Tax States and other states are on the verge of bankruptcy.
Reason Why Florida Is Raking In Billions When The High-Taxed States Are On The Verge Of Bankruptcy
Illinois is not the only state that is driving residents to move to lower-taxed states.
- New York and California, like Illinois, is taxing anything they can think of
- Their solution is to tax everything they can think of, including new businesses
- High taxed states are forcing residents to lower-tax states like the state of Florida
- New tax incentives in Florida is attracting many new residents to the state
There are other states like South Carolina, Tennessee, Nevada where there are no state income taxes.
Florida Is Raking In Billions By Attracting High Net Worth Residents
Texas is another popular state where residents are migrating to. Florida is different than any other state in a sense the state is attracting a large percentage of high net worth residents.
In general, lower-taxed states do not have any financial issues like high taxed states.
The Low-Taxed States Are Getting Richer While The Higher-Taxed States Are Getting Poorer
Many politicians like JB Pritzker are under the belief that increasing taxes will solve the state’s financial mess. It is not what you collect in revenues but what you spend. This is economics 101. Illinois lawmakers recently gave themselves a raise with the governor’s approval when the state is in financial chaos.
In the meantime, lower-taxed states like Florida are raking in billions in revenues and is prospering with no slowdown in sight.
August 11, 2019 - 3 min read