Which American States Have The Most Billionaires
Apr 7, 2016 7:36:30 GMT -6
Nugget, Mystic Wanderer, and 2 more like this
Post by Rickster on Apr 7, 2016 7:36:30 GMT -6
SOURCE:
"Yesterday's news that New Jersey may be headed for fiscal peril now that the state's wealthiest resident, hedge fund billionaire David Tepper is headed for warmer (and more tax receptive climes), caught many by surprise. Not his departure that is, but just how much of New Jersey's tax revenue was contingent on just this one person. As Bloomberg reported, "New Jersey relies on personal income taxes for about 40% of its revenue, and less than 1% of taxpayers contribute about a third of those collections. A one percent forecasting error in the income-tax estimate can mean a $140 million gap."
This means that a potential billionaire exodus from states such as CT and NJ (or any other), is emerging as one of the bigger fiscal threats to state budgets.
So which states are most at risk? For the answer we used the latest Forbes data listing the states with the most billionaires. According to the magazine, there are "540 billionaires in the United States, with a combined net worth of $2.399 trillion. That’s more billionaires and more combined net worth than any other nation in the world."
So if I understand this those nasty rich people are keeping the states affloat, and of course it's progressive states. Nugget I see Idaho is listed with a few billionaires which one are you?
This is where they live across the U.S.:
It would be interesting to see what happens if the billionaires leave while the hispanic population grows. There is a collision in the making. Of course now that the state of California is closing DMV's to do nothing but print D/L for illegals it shouldn't be long now before they start taking political positions from those in power driving the rich out anyway. Then those in power will be forced to live in that bed they created.
"Yesterday's news that New Jersey may be headed for fiscal peril now that the state's wealthiest resident, hedge fund billionaire David Tepper is headed for warmer (and more tax receptive climes), caught many by surprise. Not his departure that is, but just how much of New Jersey's tax revenue was contingent on just this one person. As Bloomberg reported, "New Jersey relies on personal income taxes for about 40% of its revenue, and less than 1% of taxpayers contribute about a third of those collections. A one percent forecasting error in the income-tax estimate can mean a $140 million gap."
This means that a potential billionaire exodus from states such as CT and NJ (or any other), is emerging as one of the bigger fiscal threats to state budgets.
So which states are most at risk? For the answer we used the latest Forbes data listing the states with the most billionaires. According to the magazine, there are "540 billionaires in the United States, with a combined net worth of $2.399 trillion. That’s more billionaires and more combined net worth than any other nation in the world."
So if I understand this those nasty rich people are keeping the states affloat, and of course it's progressive states. Nugget I see Idaho is listed with a few billionaires which one are you?
This is where they live across the U.S.:
"For the sake of California's fiscal stability, we hope governor Jerry Brown has better ideas of how to retain the 124 billionaires (with a cumulative net worth of over half a trillion dollars) currently calling the Golden State home than by merely continuing with his minimum wage hike bonanza. As we reported yesterday, California has already seen an exodus of state residents departing for other places in the US like Texas. If the all important billionaires were to depart, it would get very ugly for the state whose budget is already on edge."