This man could destroy New Jersey — by moving to Florida

The New York Post reports:

One man could cause a budget crisis in New Jersey — by moving out of the state.

Billionaire David Tepper has moved from New Jersey to Florida, and the loss of his income tax could leave a $140 million hole.

How bad:

The move could leave a devastating deficit in New Jersey’s income-tax revenue, Bloomberg News reported.

Forty percent of the state’s revenue comes from personal-income tax — a third of which is collected from less than 1 percent of taxpayers. Tepper was New Jersey’s wealthiest resident.

“We may be facing an unusual degree of income-tax forecast risk,” Frank Haines, the budget and finance officer at the state Office of Legislative Services, told a Senate committee in Trenton Tuesday.

He added that even just a 1 percent deduction in income-tax revenue could create a $140 million gap in the state’s budget.

No word yet from Comrade Sanders on this taxing story.