New Jersey, like California and a number of other states (do I have to even mention they are dominated by Democrats?) relies heavily on taxes that soak the rich.  While feeling virtuous over redistributing income expropriating wealth and giving it to supporters, they also place themselves at risk. You see, the rich are not like you and me, to quote F. Scott Fitzgerald. They are very, very mobile. Lindsay Putnam of the New York Post reports: One man could cause a budget crisis in New Jersey — by moving out of the state. Billionaire David Tepper has moved from New Jersey to Florida, and the loss of his income tax could leave a $140 million hole. The 58-year-old founder of the hedge fund Appaloosa Management — who Forbes estimates is worth $11.4 billion — registered to vote in Florida in October, listing a Miami Beach condo as his permanent address, and he filed a court document in December declaring himself a resident of the tax-friendly state. He...(Read Full Post)