Monday, January 28, 2013

‘Wall St.’ flees NY for tax-free Florida: High Taxes Have Hedge Fund Industry Relocating to Florida

The New York Post reports on Going Galt:
The city’s hedge-fund executives are flying south — and it’s not for vacation. An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida’s Palm Beach County.
There's more:
“In our industry, the people we’re talking about are $1 million-a-year earners. So when you’re talking about tax rates, it’s more meaningful.”
What are New York liberals going to do about those who don't wamt to pay higher taxes by leaving?