Financial information provider SmartAsset analyzed just the amount of money people with six-figure salaries in New York, San Francisco and Chicago could save.
Fox News contributor Jonas Max Ferris and Quill Intelligence CEO Danielle DiMartino Booth discuss the population exodus from Democrat states to GOP states over taxes, cost of living and crime on 'Cavuto Live.'lower taxesFinancial information provider SmartAsset analyzed just the amount of money people with six-figure salaries in New York, San Francisco and Chicago could save if they relocated to the biggest city in Florida.
A Manhattan resident earning $650,000 would save as much as $195,000 in Miami, the findings show. Wealthy New Yorkers pay some of the steepest taxes in the nation, facing a combined 45% effective rate when accounting for federal, state and local levies. That effective rate drops to about 35% in Florida, which does not have a statewide income tax. That same New Yorker who makes about $150,000 would also see the value of their pay increase, saving about $50,000 annually.
The sun sets on the skyline of midtown Manhattan, the Empire State Building and Hudson Yards in New York City on Dec. 17, 2022. "The cost of living difference between Manhattan and Miami is most drastic," the study said. Costs are about 137.6% higher in Manhattan than the typical U.S. city, but only 22.8% higher than the average in Miami.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York lawmakers move to pass bill that considers reparations for slavery - New York Amsterdam NewsNew York would create a commission to consider reparations to address the lingering, negative effects of slavery under a bill passed by the state Assembly on Thursday.
Read more »
New York, New Jersey schools keep kids indoors as air quality plummets reportedly from Canada wildfiresPublic schools in NYC, Long Island and New Jersey are limiting outdoor activities Wednesday, as air quality worsens due to Canadian wildfires.
Read more »
Hotter, faster, stronger: Heat island effect endangers New Yorkers - New York Amsterdam NewsNeighborhoods with fewer ways to stay cool are doomed to have more people feel sick from the heat. Here’s why and how to handle the heat this summer.
Read more »
Officials: New York state, especially Long Island, is desperate for new lifeguardsLong Island's popular beaches are hoping to avoid a lifeguard shortage this summer, a shortage that is sweeping the nation. Perhaps a starting pay increase will help? McLoganTV reports.
Read more »
Here's Shawn Mendes' new single, care of New York's awful air qualityWhere some saw a grave indication of climate change in the sepia smoke that's been hanging over New York City, Mendes saw single art
Read more »
Former New England Patriots safety found dead in Miami: reportsHe was just 25-years-old.
Read more »