Tepper moving to Florida caused problems with the state of New Jersey's budget

[KSpan]

Saw this elsewhere, good change-of-pace thread... Tepper is one wealthy man. Interesting article (from 2016) and a general topic that comes up for discussion any time a big-name free agent is considering contract offers.

https://www.nytimes.com/2016/05/01/business/one-top-taxpayer-moved-and-new-jersey-shuddered.html

"The New Jersey resident (unnamed by Mr. Haines) is the hedge-fund billionaire David Tepper. In December, Mr. Tepper declared himself a resident of Florida after living for over 20 years in New Jersey. He later moved the official headquarters of his hedge fund, Appaloosa Management, to Miami.

New Jersey won’t say exactly how much Mr. Tepper paid in taxes. But according to Institutional Investor’s Alpha, he earned more than $6 billion from 2012 to 2015. Tax experts say his move to Florida could cost New Jersey — which has a top tax rate of 8.97 percent — hundreds of millions of dollars in lost payments."

[Waldo]

Florida has no state income tax. Very smart move by Tepper. I'm guessing that owning a private jet helps with living where you want to and not being inconvenienced. 

[jasonluckydog]

Rich stay rich and the poor keeps pounding dirt.

[Lemory]

I doubt someone as rich as Tepper pays his fair share of taxes. 

[TN05]

32 minutes ago, Lemory said:

I doubt someone as rich as Tepper pays his fair share of taxes. 

What’s this magical fair share? 10%? 50%? 90%? 100%?

[saints4lifeagain]

13 minutes ago, TN05 said:

What’s this magical fair share? 10%? 50%? 90%? 100%?

What I've learned on Twitter today is that all billionaires should sell their belongings and give all of their money away. Seems like the answer to your question is 100%.

[frash.exe]

hundreds of millions of dollars that probably would’ve gone to waste anyway in one of nj’s bloated taxpayer funded operations bc this state knows about fug all when it comes to spending wisely

[BrianS]

NJ has a top marginal tax rate of almost 9% . . . and people think he should pay more STATE taxes in addition to whatever federal taxes he pays?  smh.

 

[rippadonn]

You can "own" a house in Jersey but you'll still have to bust ur ars to pay taxes for it.

[Snake]

11 hours ago, jasonluckydog said:

Rich stay rich and the poor keeps pounding dirt.

Dirty cost too much. I pound sand. 

[Snake]

19 minutes ago, rippadonn said:

You can "own" a house in Jersey but you'll still have to bust ur ars to pay taxes for it.

Yup a starter home cost about 5k in taxes. 

[Snake]

10 hours ago, saints4lifeagain said:

What I've learned on Twitter today is that all billionaires should sell their belongings and give all of their money away. Seems like the answer to your question is 100%.

Socialism is key to your fair share. It solves the rich problem by making everyone poor. It's the perfect solution. 

[Jeremy Igo]

11 hours ago, TN05 said:

What’s this magical fair share? 10%? 50%? 90%? 100%?

The same % share as the middle class. 

 

(No wealthy people pay that)

[Wyank]

This feels destined for tinderbox