WEBVTT - Rush Limbaugh October 8th 2018

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<v Speaker 1>For years, I have told you that wealthy taxpayers don't

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<v Speaker 1>just sit there and pay higher taxes. The rich will

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<v Speaker 1>always escape high tax states and high taxes because they

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<v Speaker 1>can now. Chris Edwards, a Cato Institute tax expert, lays

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<v Speaker 1>out the evidence to confirm it. The Democrat governor of

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<v Speaker 1>New Jersey just raised taxes on the top income bracket there.

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<v Speaker 1>To result, the top income bracket is joining the tax

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<v Speaker 1>freedom exodus. Wealthy residents are waiving goodbye to California and Washington,

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<v Speaker 1>notorious for high taxes. Connecticut lost multiple multi billionaires after

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<v Speaker 1>the Democrat governor raised taxes there. New York's governor Andrew

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<v Speaker 1>Cuomo admits that his state is losing high earners to

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<v Speaker 1>low tax Florida, but he says it's because of the weather.

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<v Speaker 1>It's only gonna get worse, says Chris Edwards. The Republican

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<v Speaker 1>tax plan capped state and local tax deductions, so twenty

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<v Speaker 1>five million high income families now bear the full tax

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<v Speaker 1>burden of their high tax states. They're gonna just sit

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<v Speaker 1>there and pay it. As more wealthy people leave, what

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<v Speaker 1>will Democrats do well, They'll raise taxes on those who

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<v Speaker 1>are remaining, because they never learn and then they'll raise

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<v Speaker 1>taxes on transportation, and e raise taxes on your bananas,

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<v Speaker 1>and they're gonna raise taxes on the air that you

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<v Speaker 1>breathe before it's all said and done, so don't hold

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<v Speaker 1>your breath. M