Wednesday, April 13, 2016

Rick Scott's Florida - America's New Tax Haven

Meet DavidTepper he is the founder of hedge fund Appaloosa Management, and he’s worth more than $10 billion, according to Forbes. He ran his firm out of New Jersey for years, but recentlymoved the operation to Miami Beach. The top income tax rate in New Jersey is nearly 9%. In Florida, the top rate is 0. Tepper will save so much money that New Jersey finance officials worry that the tax revenue lost to his move could blow a hole in the state
Connecticut lost a couple of billionaires as well— Thomas Peterffy and C. Dean Metropoulos, who also decamped for Florida recently. Rick Scott even invited Yale University to ditch New Haven and relocate to the 
Sunshine State.

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