As more corporations move to cities that offer attractive tax incentives and a business-welcoming attitude, people will increasingly leave the New York area.
As people and companies leave, taxes will have to be raised to make up for the lost revenue. Then, the higher taxes will push additional businesses and people to leave. As the tax base erodes, services will be drastically cut and teachers, firemen, garbage collectors and police officers will be laid off. The quality of life for those who remain will diminish.
This pattern is severely important to your career. Are you living in a city or state that is growing or declining? Do you see a flow of new jobs or fewer job openings? Does it make sense to earn a higher salary in NYC, but end up with less money in your pocket after taxes, rent and the high costs compared to living in North Carolina? You can no longer simply think of New York or other big cities as the only destination.
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