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

[sunset]

5 hours ago, bull123 said:

Further Confirms the guy is smart...nj is a cesspool 

Hey, I like it here!  It's not all a cesspool!

[tiger7_88]

21 hours ago, KSpan said:

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."

Too bad, so sad then for any politician of whatever party stripe that lives every day with the belief that YOUR money is HIS money.

[Greatman77]

Did you know that if you sell your house in NJ, and don't buy another one in the state, you have to pay an "Exit Tax" of 1% of the sale price?

My mother had to pay this when my father died and she moved to Delaware. If you don't pay, they won't transfer the title to the buyer. Unbelievable.

[WarHeel]

23 hours ago, Lemory said:

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

Took exactly 3 posts for this to go political. Smdh.

[intangiblejohnny]

22 hours ago, Billy_T said:

Interesting.

What defines "wealthy".....in your opinion?

 Check out the tax rates in FDR's era. During this time America had the most prosperous middle class in it's history.

 Understanding these figures will also help you understand the meaning of wealthy.

[JARROD]

On 12/5/2018 at 9:56 PM, TN05 said:

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

The top tax rate until the 80s was 70%. 

[intangiblejohnny]

11 minutes ago, Billy_T said:

Oh I have no questions or doubts on the topic...

...but I am interested in what @Jeremy Igo (and you) think constitutes "wealthy".

Pray tell?  (please be specific)

 

Start a thread in the tb and I'll get into it with you. I know you're baiting Zod but if you want a discussion we should take it off the main forum for the sake of others.