Tuesday, June 15, 2010

And Scottsdale wept...

Forbes.com has an article up, one discussing the movement of the wealthy around the country.

From the article -
Surprise: America's wealthy like warm weather and low taxes. That's the takeaway from IRS data, analyzed by Forbes, on moves between counties. We looked for counties that the rich are moving to in big numbers.

Topping the list: Collier County, Fla., which includes the city of Naples. Tax returns accounting for 15,150 people showed moves to Collier County from other parts of the country in 2008, the latest year for which IRS data is available. Their average reported income: $76,161 per person--equivalent to $304,644 for a family of four.
A slide show of the top 35 counties for the inflow of wealth is here.

Upshot of it all:

Even with some of the lowest taxes and nicest weather in the country, Scottsdale and Maricopa County don't make the cut.

And given that the economic development "plan" here is "find people who have made a bundle elsewhere, entice them to move here, and then to spend as much of their bundle here before they kick", something isn't working.

Something's working in Colorado, New Mexico, Washington, Texas, Montana, and Idaho, but not here.

Something is working all over the eastern seaboard, but not here.

It's even working in parts of California (now that's something that runs counter to the AZGOP's no taxes/no regulation orthodoxy), but not here.

Perhaps it's time to consider Plan B. Plan A isn't working.

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