Re:Elon Musk moves to Texas
by lotsofpulp on Wednesday December 09, 2020 @03:29PM
(#25364349)
Those east cost states just have a lot of debt (including their unfunded deferred compensation such as defined benefit pensions and retiree healthcare), plus debt from old infrastructure that needs to be updated.
On the east coast some of our states have high state income tax AND high property taxes (and property is very expensive) and I’m not sure the services or infrastructure are any better than in states like Texas. At least in California your property tax is locked in, which has its own problems of course.
At least where I live, a good deal of today’s tax revenues go to pensions to people that retired to Florida or Arizona (or some other tax free state) in their 50’s. I think Texas has avoided this trap many states are in today.