Start spreading the news, I'm leaving today
The Wall Street Journal reports that the same forces that have decimated Michigan are at work in New York. Taxes in the empire state are the highest in the country, and as happened in Michigan, the best and brightest, who also happen to be those earning the most money, are rapidly leaving the state.
We reported not long ago that New York city depends for half of its annual budget on just a tiny handful of taxpayers. But those people are leaving, and now that new and more crushing taxes are being put in place, the exodus will only speed up. The city and state depend on a flow of tax revenue from the very same people that they have demonized for years. Now those people are fleeing and taking their wealth with them. How will New York survive when it is made up of only welfare dependents?
The laws of economics cannot be evaded. Sooner or later the actions that Democrats take to destroy the wealth producers takes its toll and all that you have left are those people who are a net drain on the system. It is at that point that the collapse comes home to roost.
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