How To Legally Avoid Being Overtaxed

The problem with this solution to being overtaxed is that most of us do not have the money or the job portability to carry it out, but with the age of computers, that may change.  As you may have read, New York State is discussing the idea of a 31 per cent tax hike on anyone making over $500,000 a year.  I realized that a lot of us don’t have to be concerned about paying that tax (myself included), but that’s not the only aspect of the proposal that will affect us.  Generally speaking, people who make over $500,000 a year hire people, they provide jobs.  If they have less money, they hire fewer people and spend less money.  So let’s look at a specific example.

According to National Review Online, Rush Limbaugh is ready to move his New York operation (he pays state income taxes on his income for every day he works in the state and also pays income taxes on his staff that works in New York) if these tax increases go through.  He will move the operation to a state that does not have a state income tax.  New York State in that instance not only does not collect more taxes from Rush Limbaugh, it loses the revenue it is now getting.  Unfortunately, Rush will probably not be the only entrepreneur who will move to a more tax-friendly location.

It is because of decisions like this that Texas is now home to more Fortune 500 headquarters than New York.  Our state of federal governments have long enjoyed increasing spending at a rate that is far greateer than inflation.  It’s time that they tightened their belts instead of expecting everyone else to pay for their spending habits. 

Again, I strongly suggest that you visit the website Taxdayteaparty.com to see what you can do to turn this excessive taxation and excessive spending around.