Rush Limbaugh Will 'Lead the Way' Out of Highest Tax State Limbaugh says will be exodus from NY.
Donald Trump and Rush Limbaugh are sending the same message to New York’s Governor David Paterson: Hike taxes for high-income earners and your major taxpayers will leave the state.
Trump told FOX host Neil Cavuto that the “millionaire’s tax’ is going to be “total disaster” for the state and will consider leaving New York. Trump warned that he also spoke with 25 to 30 people “leaving or going to consider leaving.
” Limbaugh went a step further on April 11 when he told Cavuto he will leave the high-tax state and is happy to “lead the way.” In Limbaugh’s interview with Cavuto, the talk radio host said New York will suffer by smacking the successful with even higher taxes. Limbaugh predicted that New York’s tax increases will cause an exodus of high-income earners leaving the state.
“They have no idea the shortfall of revenue that their own policies are going to be creating,” Limbaugh fumed.
Clips of the interview aired during “Cavuto On Business,” the same day that The Wall Street Journal crowned New York the “Tax Capital of the World” for having the highest tax rates in the country.
New York legislators will impose an additional two percentage point “millionaire tax” on singles who earn $200,000 and couples that earn $300,000 a year according to the Journal.
This puts New York’s States top income tax rate at 8.97 percent, and 12.62 percent for those that live in New York City.
With the additional “millionaire tax” and additional taxes and fees on bottled water, cigars, hunting and fishing, utilities, and various city services, New Yorkers will pay roughly $7 billion in new or higher taxes next year, according to The New York Times.