Effect of High Taxes

What do California, New York, Illinois, Michigan, and New Jersey have in common?

Each is by a major body of water: Pacific Ocean, Atlantic Ocean, Lake Michigan, three Great Lakes, and the Atlantic Ocean.

Each is a beautiful state with rivers, beaches, and wonderful outdoor resources.

In the past, each was in the top 10 states in terms of manufactured output.

You can gather from the title, that each is a high tax state.

And finally, as reported in USA Today, each has lost a tremendous number of residents between 2009-2010. In order of highest resident losses:

California -1,965,599
New York -1,570,310
Illinois -880,248
Michigan -708,110
New Jersey -492,878

The point has been made in the column repeatedly, that taxes cause capital to leave. Here is hard evidence of this fact.

Just imagine what the unemployment rate would be if these millions of people still resided in each of these states! It seems reasonable that unemployment would be up equal to 90% of the resident exit totals, as these people would either be out of work, or someone else would be as a result of them having a job.

Taxes cost jobs, productivity, and cause people to take their capital elsewhere.  They also complicate your need for investment services and your plan for retirement.