Golisano leaving WNY

[San Jose Bills Fan]

According to the site linked below, Naples, Florida is 217% more expensive than Rochester, NY as a place to live:

 

http://www.bestplaces.net/col/?salary=5000...;city2=51247625

 

And, while much of that is due to the differences in housing prices, every item on the list is more expensive in Naples, than in Rochester.

Cost of Living Indexes Rochester Naples

Overall 79 251

Food 111 104

Housing 29 512

Utilities 131 101

Transportation 105 109

Health 102 110

Miscellaneous 99 100

 

Unless I'm reading it wrong, food and utilities are more expensive in Rochester. Regardless that misses the point.

 

Wealthy people, including professional athletes are taxed at a very high rate in New York and not at all in Florida. The median NFL player salary is about $1 million/year. If a Buffalo Bills player plays half his games in Buffalo, which he will, then half his income is taxed at 8.7%. His New York State income tax will be $43,500. If housing is more expensive elsewhere it doesn't really matter. He can take that $44K and do any number of things with it that would be advantageous to his overall wealth. That $44K becomes his money, not the state's. For a wealthy person paying a lot for an expensive home is not an issue. Paying ridiculous taxes is.

[The Dean]

Cost of Living Indexes Rochester Naples

Overall 79 251

Food 111 104

Housing 29 512

Utilities 131 101

Transportation 105 109

Health 102 110

Miscellaneous 99 100

 

Unless I'm reading it wrong, food and utilities are more expensive in Rochester. Regardless that misses the point.

 

Wealthy people, including professional athletes are taxed at a very high rate in New York and not at all in Florida. The median NFL player salary is about $1 million/year. If a Buffalo Bills player plays half his games in Buffalo, which he will, then half his income is taxed at 8.7%. His New York State income tax will be $43,500. If housing is more expensive elsewhere it doesn't really matter. He can take that $44K and do any number of things with it that would be advantageous to his overall wealth. That $44K becomes his money, not the state's. For a wealthy person paying a lot for an expensive home is not an issue. Paying ridiculous taxes is.

 

Thanks for the clarification. My bad.

 

Still, quick look at the items, other than housing, show a higher COL in Naples. My guess is, the differences in COL are even more exaggerated at the higher end.

[billygoats]

A billionaire paying 9% taxes? My heart bleeds. He's free to move where he wants, but don't feel sorry for him.

this is the same idiotic bull sh-- left wingers spin all day. Golisano is a western new yorker made good, who decided to start a successful business in this state and has single handedly created more jobs for our local community than Obama ever will. He is an entrepreneur and a philanthropist who has consistently given to the Western New York community. He has now been forced out of New York by another tyrannical tax hike that is going to drive many of the already dwindling population of people remaining in New York who pay the taxes. New York state has failed to recognize that we do not in fact live in a vacuum and increasing taxes on a small already overtaxed group of people will in fact create a powerful driving force for an exodus of said population out of the state, leaving an even smaller group of people behind to brunt the tax burden. It is amazing that his love for the state kept his permanent address here for as long as it did, this was the final straw that broke the camels back. He is not the first and will certainly not be the last billionaire to leave NY state.

 

However, you are right that we should not feel bad for him, he made a brilliant decision. We should feel bad for ourselves because the state has lost a tax payer that was willing to pay already inflated prices to keep his home in NY, his departure is a huge hit to the state's balance sheet. He is making a statement that hopefully Albany will here loud and clear, but that will ultimately probably fall on death ears in the capital. Also, I hope you realize that a 9% tax hike is enormous and if it happened in your tax bracket you to would probably leave the state. However, in NY that will never happen because the unimaginative are rewarded with tax incentives instead of rewarding those that generate the majority of the states commerce.

[San Jose Bills Fan]

this is the same idiotic bull sh-- left wingers spin all day. Golisano is a western new yorker made good, who decided to start a successful business in this state and has single handedly created more jobs for our local community than Obama ever will. He is an entrepreneur and a philanthropist who has consistently given to the Western New York community. He has now been forced out of New York by another tyrannical tax hike that is going to drive many of the already dwindling population of people remaining in New York who pay the taxes. New York state has failed to recognize that we do not in fact live in a vacuum and increasing taxes on a small already overtaxed group of people will in fact create a powerful driving force for an exodus of said population out of the state, leaving an even smaller group of people behind to brunt the tax burden. It is amazing that his love for the state kept his permanent address here for as long as it did, this was the final straw that broke the camels back. He is not the first and will certainly not be the last billionaire to leave NY state.

 

However, you are right that we should not feel bad for him, he made a brilliant decision. We should feel bad for ourselves because the state has lost a tax payer that was willing to pay already inflated prices to keep his home in NY, his departure is a huge hit to the state's balance sheet. He is making a statement that hopefully Albany will here loud and clear, but that will ultimately probably fall on death ears in the capital. Also, I hope you realize that a 9% tax hike is enormous and if it happened in your tax bracket you to would probably leave the state. However, in NY that will never happen because the unimaginative are rewarded with tax incentives instead of rewarding those that generate the majority of the states commerce.

I agree with most of what you say. But why bring Obama into this? The demise of New York state has been going on since the end of World War II. It would be harder to imagine a state with more patronage, nepotism, taxes, generally incompetent elected officials and a more hostile attitude towards business. This has been going on for decades but seems to have accelerated in the last 8-10 years. Obama's been in office what, 115 days?

[Nick the Greek]

I know a lot of people have cited Golisano as a possible money source/investor to help keep the Bills in Western NY. Now that he's leaving do you think this affects the future of the Bills? He says he will remain owner of Sabres but I'm just wondering if he will be interested in putting money up for the Bills now. I'm thinking probably not but maybe since he will be saving millions of dollars in taxes by moving to Fl...

http://www.buffalonews.com/cityregion/story/672153.html

I doubt he by the Bills regardless of where he lives

[Captain Caveman]

We should feel bad for ourselves because the state has lost a tax payer that was willing to pay already inflated prices to keep his home in NY, his departure is a huge hit to the state's balance sheet. He is making a statement that hopefully Albany will here loud and clear, but that will ultimately probably fall on death ears in the capital. Also, I hope you realize that a 9% tax hike is enormous and if it happened in your tax bracket you to would probably leave the state. However, in NY that will never happen because the unimaginative are rewarded with tax incentives instead of rewarding those that generate the majority of the states commerce.

 

First, it's not a 9% tax hike, 9% represents his total NY income tax rate. Second, you can complain about the state losing his $5 million all you want, but in the end, they're going to come out ahead financially, because most folks (even millionaires) can't (or won't) just up and leave.

 

There are arguments to be made against tax rates being this high, you're just not making them.

[papazoid]

#1 - Golisano does NOT have the wealth needed to own an NFL franchise.

 

#2- he already is a crappy owner of the Sabres who will NOT spend to the cap. thereby significantly hindering our ability on the ice.

 

#3- his decision to take up residence in FL is understandable, saving millions every year in state taxes. too bad the NY politicians don't know how to grow jobs.

[bills_fan]

First, it's not a 9% tax hike, 9% represents his total NY income tax rate. Second, you can complain about the state losing his $5 million all you want, but in the end, they're going to come out ahead financially, because most folks (even millionaires) can't (or won't) just up and leave.

 

There are arguments to be made against tax rates being this high, you're just not making them.

 

 

I disagree. Most folks who pay the 9% rate live in NYC, Westchester or Long Island. They can up and move to NJ or Connecticut, and still get to work very easily. Nots aying NJ or Connecticut is that much better, but they would not pay 9%.

[Captain Caveman]

#1 - Golisano does NOT have the wealth needed to own an NFL franchise.

 

I call bull .

 

http://www.forbes.com/lists/2008/54/400lis...isano_873A.html

 

Not to say that all this wealth is currently liquid, but if he wanted to, he could buy the Bills tomorrow.

[PromoTheRobot]

I agree with most of what you say. But why bring Obama into this? The demise of New York state has been going on since the end of World War II. It would be harder to imagine a state with more patronage, nepotism, taxes, generally incompetent elected officials and a more hostile attitude towards business. This has been going on for decades but seems to have accelerated in the last 8-10 years. Obama's been in office what, 115 days?

Don't bring up reality. It only confuses them.

 

PTR

[KD in CA]

I disagree. Most folks who pay the 9% rate live in NYC, Westchester or Long Island. They can up and move to NJ or Connecticut, and still get to work very easily. Nots aying NJ or Connecticut is that much better, but they would not pay 9%.

I work in lower Manhattan and pay 4.5%, which is still absurd, but at least it's not at criminal levels (yet). 9%??? For what???

 

First, it's not a 9% tax hike, 9% represents his total NY income tax rate. Second, you can complain about the state losing his $5 million all you want, but in the end, they're going to come out ahead financially, because most folks (even millionaires) can't (or won't) just up and leave.

Wow...great attitude here. And we wonder why the government takes a "!@#$ the citizenry, what are they going to do about it?" approach to governance.

[KD in CA]

Still, quick look at the items, other than housing, show a higher COL in Naples. My guess is, the differences in COL are even more exaggerated at the higher end.

 

But still doesn't amount to a drop in the bucket compared to paying millions in state income tax every year.

 

How many houses is he gonna buy? The rest is peanuts.

[Mr. WEO]

Thanks for the clarification. My bad.

 

Still, quick look at the items, other than housing, show a higher COL in Naples. My guess is, the differences in COL are even more exaggerated at the higher end.

Almost the entire difference is in housing (the rest are essentially the same) and he already has a house.

 

Golisano is wealthier than most of the current NFL owners, by far.

[Captain Caveman]

Wow...great attitude here. And we wonder why the government takes a "!@#$ the citizenry, what are they going to do about it?" approach to governance.

You really think the attitude is "!@#$ the citizenry"? The reason taxes are so high is because NY state offers it's residents so many programs and services. Somebody has to pay for it.

[SF Bills Fan]

My mom is doing is making the change as well for tax reasons. Now her primary residence will be listed as our condo in FL and not our house in OP. The amount of time she spends between FL and WNY will not change at all, in fact she is basically still a WNY'er. We have neighbors that recently did the same. The savings are pretty big. I wonder how much of Buffalo's population loss is attributed to people that actually don't really move? I would not be concerned about Golisano moving either.

[dloroch]

I know a lot of people have cited Golisano as a possible money source/investor to help keep the Bills in Western NY. Now that he's leaving do you think this affects the future of the Bills? He says he will remain owner of Sabres but I'm just wondering if he will be interested in putting money up for the Bills now. I'm thinking probably not but maybe since he will be saving millions of dollars in taxes by moving to Fl...

http://www.buffalonews.com/cityregion/story/672153.html

 

Golisano is an attention whore - no national media outlet has picked up the story - because no one cares!

He is doing it to bring attention to his Political Action group and for his ego. He built a 4 million dollar house for his daughter that she never lived in and is still paying the $56k a year in property taxes going on 4-5 years now.

 

There are people in Manhattan who could buy and sell Golisano a dozen times before breakfast who are not moving out of NY - they just either figured out their tax shelters earlier! As for his being a potential investor in the Bills - that was highly speculative to begin with - given his ownership of the Sabres, etc.

 

But what do I know - Only SKOOBY knows. Perhaps his BMW/Mercedes driving friend can enlighten us.

[MarkyMannn]

You really think the attitude is "!@#$ the citizenry"? The reason taxes are so high is because NY state offers it's residents so many programs and services. Somebody has to pay for it.

 

I'm another guy who agrees that this is the attitude. As a middle class working couple with 2 kids that we put through college ourselves without state help, maybe you can list 10 programs and services the state gives me that I really want or need. OK here are 2: they plow my street and pick up my garbage. Otherwise I can't think of any that I get at least once a week.

[The Senator]

But what do I know - Only SKOOBY knows. Perhaps his BMW/Mercedes driving friend can enlighten us.

SKOOBY is too busy mowing Tom's lawn right now...

 

 

SKOOOOOOOBY

[dloroch]

this is the same idiotic bull sh-- left wingers spin all day. Golisano is a western new yorker made good, who decided to start a successful business in this state and has single handedly created more jobs for our local community than Obama ever will. He is an entrepreneur and a philanthropist who has consistently given to the Western New York community. He has now been forced out of New York by another tyrannical tax hike that is going to drive many of the already dwindling population of people remaining in New York who pay the taxes. New York state has failed to recognize that we do not in fact live in a vacuum and increasing taxes on a small already overtaxed group of people will in fact create a powerful driving force for an exodus of said population out of the state, leaving an even smaller group of people behind to brunt the tax burden. It is amazing that his love for the state kept his permanent address here for as long as it did, this was the final straw that broke the camels back. He is not the first and will certainly not be the last billionaire to leave NY state.

 

However, you are right that we should not feel bad for him, he made a brilliant decision. We should feel bad for ourselves because the state has lost a tax payer that was willing to pay already inflated prices to keep his home in NY, his departure is a huge hit to the state's balance sheet. He is making a statement that hopefully Albany will here loud and clear, but that will ultimately probably fall on death ears in the capital. Also, I hope you realize that a 9% tax hike is enormous and if it happened in your tax bracket you to would probably leave the state. However, in NY that will never happen because the unimaginative are rewarded with tax incentives instead of rewarding those that generate the majority of the states commerce.

 

Same bull@#$ Right-Wingers spew all day. Like I said in my other post - he is doing it solely to bring attention to his political action group.

[Mr. WEO]

Golisano is an attention whore - no national media outlet has picked up the story - because no one cares!

He is doing it to bring attention to his Political Action group and for his ego. He built a 4 million dollar house for his daughter that she never lived in and is still paying the $56k a year in property taxes going on 4-5 years now.

 

There are people in Manhattan who could buy and sell Golisano a dozen times before breakfast who are not moving out of NY - they just either figured out their tax shelters earlier! As for his being a potential investor in the Bills - that was highly speculative to begin with - given his ownership of the Sabres, etc.

 

But what do I know - Only SKOOBY knows. Perhaps his BMW/Mercedes driving friend can enlighten us.

 

An attention whore??

 

This guy created a large company from nothing. It employes thousands locally and worldwide. He has already given away more money than you or your kin have either paid in taxes or sucked form the teat of public largess for the past 3 generations.

 

At least he is making a loud statement about the poor running of this state--and he has been consistent with this message for years. Would it be better for you if he was like the rest of NY citizens who keep voting in the people who steal their income and give it away?

 

 

The state does not plow your street or pickup your garbage. That is a function of your municipal tax (except in my town where we have to pay for garbage pickup despite massive local taxes).