The billionaire Rochester businessman Tom Golisano has announced that he is leaving new york to avoid a $13,000 a day state tax bill and put the money to better use such as charities and his political action committee. Golisano is planning on moving his residence to Florida, where there are no state income taxes. You can read the full story in the Buffalo News.

This is prime example of how a soak the rich strategy doesn’t quite work out as advertised. By leaving, Golisano not only deprives New York State of his income taxes, but also of the local jobs his presence creates.

In order to understand the effects of nation-wide socialist policies one only needs to look at the fate of the most socialist states in the Union, New York included. A nation-wide soak the rich strategy is somewhat more difficult to avoid by picking up and leaving as a state imposed one but it will happen.