Sunday, July 7, 2013

It's Time to Flee the Coastal States and Head for Flyover Country

Meredith Whitney sat down for Lunch with FT and FT tell us that she has written a new book:
 In it she argues that the coastal states that were hardest hit by property collapse will suffer a mass exodus as people flee from regulation, debt and punitive taxation, moving to the “flyover” states in the middle where taxes are lower.
I protest that I’d rather endure any amount of tax and red tape in New York than live in South Dakota. Whitney stops smiling and leans across the table, big brown eyes narrowing.
“That’s interesting,” she snaps, “because Julian Robertson [the former hedge fund manager] certainly can afford to live in New York City but he chose to live outside. Ron Burkle [the private equity magnate] can afford to live in California but isn’t it interesting that he lives there fewer than half the days in the year?”

1 comment:

  1. As a surfer, I'd wither in America's heartland. If taxes and regulations get more punitive than I can handle, I'll move south of the border.