NEW YORK – March 22, 2019 – U.S. Sen. Rick Scott (R-Fla.) wrote an editorial published by the Wall Street Journal that blames New York and other high tax states for their current loss of residents.
Scott is rebutting an argument that tax reform is pushing high-income property owners from higher-tax states to places like Florida, which has lower overall taxes and no income tax.
He says in the opinion piece that people leave places like New York for Florida because Northeastern states have higher taxes and state and local governments that are run less efficiently than their counterparts in the South. As governor of Florida, Scott says his administration helped turn around the business prospects of Florida by cutting more than $10 billion in taxes and more than 5,000 regulations. As a result, he says the state’s businesses created nearly 1.7 million new jobs, and the state paid off more than one-third of its debts in eight years while making record investments in education, transportation and the environment.
According to Scott, the luxury real-estate market in Manhattan may be sagging, but Florida’s economy is thriving and expanding at a record pace.
“There’s a reason Florida surpassed New York as the third-largest state. … And there’s a reason companies are fleeing high-tax states, bringing jobs with them to Florida, Tennessee and Texas,” Scott writes.
Source: Wall Street Journal (03/20/19) Scott, Rick
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