So Long, NY

With the special referendum in California to raise taxes to (partially) make up for their upcoming $42 billion dollar deficit completely tanked, maybe politicians will finally get the point that Americans do not want to pay any more in taxes.

The New York Times writes: "The one measure to pass, which would prevent legislators and statewide constitutional officers, including the governor, from receiving pay rises in years when the state is running a deficit, was approved by more than 75 percent of those who cast ballots, demonstrating the overwhelming disgust many Californians say in polls that they feel toward elected officials in a time of deep budget paralysis."

Meanwhile, in New York, billionaire Tom Golisano, the founder of Paychex, penned a letter published in the New York Post about his decision to get the heck out of dodge and relocate to another state that doesn't have a tax burden of $5,260 for every man, woman, and child (that's on top of the federal tax burden for each resident). Read the whole thing here.

"This problem didn't begin with the current recession. New York faced a $6 billion shortfall before the economic downturn. However, in the face of economic turmoil, Gov. Paterson, Assembly Speaker Sheldon Silver and Senate Majority Leader Malcolm Smith looked to the unions and special interests, who answered with one voice: raise taxes.

"That was irresponsible -- and may just prove to be counterproductive, since the top 1 percent of earners account for about 50 percent of state revenue and are the ones who can and will leave.

"Among other hikes in taxes and fees, they raised the marginal tax rate on the most successful (and most mobile) New Yorkers to 8.97 percent, the second-highest rate in the nation.

"Bottom line? By domiciling in Florida, which has no personal-income tax, I will save $13,800 every day. That's a pretty strong incentive.

"Like I said, I love New York. But I'm not going to pay any more for the waste, corruption and inefficiency that is New York state government."