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NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
Collapse? No, but it's being designed so that only the wealthiest people can live there, which I think is the main agenda. The wealthy want all the best lands, and will push the poor and undesirable people to deserts or places where there are no mountains or waterfronts.
NY and CA are doing just fine, at least for anyone who bought a house there 30 years ago. The main problem with NY and CA is the cost of housing, not taxes.
Wrong. Businesses are leaving both states due to high taxes.
Any minute now. We'll come running to Wisconsin and plead at the feet of Scott Walker, in the hope that he'll guide us to happiness and prosperity the Foxconn way. Altars to Ayn Rand will be erected, and burnt offerings will be offered up daily.
You'll be SO vindicated, OP.
Or not. I'll keep on living my solid middle class life in CA. And if you'll excuse, me, I think it's time for a run on the beach. 66 degrees in that weird system all y'all are using, should be pleasant.
Oh please.
Scott Walker isn’t even governor any more.
He wasn’t all that libertarian.
Wisconsin is fairly left-leaning, especially fiscally.
Wisconsin is one of the best states left in which to truly be middle class.
So anyway......
Quote:
Originally Posted by TheEmissary
That's the point! All of these low cost of living places have jobs with salaries that are much lower, too. For retirees like me, moving to a lower-cost area makes a lot of sense. I don't need a job. But unless you make a killing selling your home and you've paid off a lot of its mortgage, moving to a lower cost area with lower paying salaries may end up being a "financial wash" if you're still working.
I’ve always worked in professions that pay about the same anywhere. The discrepancies in salaries being nowhere close to those concerning cost of living.
That being said, it makes a whole lot more sense for me to live out here in the middle than barely squeak by in a place like California.
One thing not mentioned is the benefit of a high cost state upon retirement. A mediocre job in a high cost state will still get you a much higher Social Security payment than the same job upon retirement in a low wage state. And if you happen to own your house in a high wage state you likely move to that low wage state with enough cash to buy a place in full and have a safety net. Its basically what a bunch of my relatives whose families lived in New York for decades have done. We used to have family picnics with over 200 people when everyone still lived in NY, now we would be lucky to get 30 or 40. The payout was just to good to pass up.
Quote:
Originally Posted by Smash255
My parents did the same thing. My dad had a fairly decent job and retired in 2008. My parents moved to suburban Charlotte the following year, purchasing a home for considerably less than they sold on Long Island. Didn't go free and clear, but have a relatively small mortgage and left with a pretty nice cushion into their retirement.
Yup, that's what I will be doing when I retire, only I'm going back up north, from whence I came. I hate this place with a passion; not so much the cost of living, but more because of just how damn crowded it is! For all of this talk about people "fleeing Long Island in droves", this place gets more and more congested and overpopulated every year.
NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
California and New York are chock full of millions of middle class people. How will they continue? They same way they’ve been continuing up to this point.
Sorting into the rich and poor? I got news for ya...that would be the whole damn country doing that.
“Utilizing generous welfare in the states?” Have you checked Mississippi, Louisiana or West Virginia? Maybe you should.
Yup, that's what I will be doing when I retire, only I'm going back up north, from whence I came. I hate this place with a passion; not so much the cost of living, but more because of just how damn crowded it is! For all of this talk about people "fleeing Long Island in droves", this place gets more and more congested and overpopulated every year.
The truth is that people aren’t fleeing New York or California in droves like people love to say. Sure, people leave, but the replacement rate is astonishing.
Supposedly, California is emptying out. That’s obviously a lie. Every time I visit (7 or 8 times a year), it’s just as crowded as it’s always been and in some parts, it’s even more crowded.
Exactly why will they collapse, you should be more concerned with the US debt.
They owe HUGE unfunded liabilities in the form of public employee pensions plus benefits, and they can't print money.
And I agree with the other poster that Illinois will be the first to fail. Each Chicago household owes $126,000 in taxes for unfunded public employee pensions plus benefits.
Yes NYC and CA are turning into over taxed crapholes for the rich with potholes in the road and most of the money going to the corrupt union bosses and the LIBS running the school systems.........but there's a secret most don't know and they should..............
To all the ones who think they are putting out a message by leaving in a huff.......here's the secret.......
THE LIBERAL ELiTES COuLD CARE LESS!.....they would be happy if half the state of CA got up and left........so there ya have it.......they want you and I to leave, the sooner the better.......
Ding, ding, ding, and we have a winner.
The stuff happening in San Francisco is all by designed.
In the past, when rich people wanted a piece of land or a community, they would organize gangs to go and terrorize the residents into selling their businesses and homes at a fraction of what it was once worth. And then here comes the rich people and buys everything at value, then they bull doze the homes and businesses and put up hotels and golf courses.
Today, the rich can now just pay the politicians to make laws and policies that allow homeless to gather in the cities, poop everywhere and chase away the tourists, and then eventually the businesses and homeowners end up selling and moving out, and the rich get to take over.
I'm well aware that Sacramento couldn't care less who leaves. When Toyota moved to Texas they didn't even blink. Next year I'm a native middle class business owner who is cashing out and leaving Ca for Az. I have no illusions I'll be missed in the slightest. Just one of many uhauls heading for the border.
I'll be right behind ya Finper......another middle class business owner cashing out and heading to AZ....
See ya there!
NY has had high property taxes forever. As far as a welfare state, that's been forever, too. They did reform the system ? a while back to help a bit.
Property taxes high, but you don't pay high water bills (as many sunbelt states do), high yearly car registrations (as Florida, NC and ? other states do) and other things. Dining out is inexpensive in many NY cities (upstate). Painters and home repairman are not as high as some states I've lived in either. It's a wash. I think every state gets you, just in different ways.
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