One billionaire moves south — and New Jersey's budget falls apart . Billionaire David Tepper is moving from New Jersey to Florida, and much to New Jersey's dismay, he is taking his tax burden with him.

CS Monitor reports:

Billionaire David Tepper is moving from New Jersey to Florida this year — and so is his tax contribution to New Jersey, which is so large the move threatens his former home's state budget.

The outsize dent one change of address can make sheds light not only on how much money America's wealthiest citizens can move, but also on how much the "1 percent" contributes to a functioning government.

Mr. Tepper, a highly successful hedge-fund manager, registered to vote in Florida last October, according to Bloomberg. He listed a condominium in Florida as his new residential address and moved his business, Appaloosa Management, to the Sunshine State. And the New Jersey legislature took notice.


"We may be facing an unusual degree of income-tax forecast risk," testified Frank Haines, a budget officer with New Jersey's Office of Legislative Services, before a Senate committee Tuesday.

Comrade Sanders please call your office. No word yet on this story from Illinois Democrats that want a progressive state income tax.