New Jersey is a big state, but when just one man decided to move away, the state legislature’s budget office director warned that the loss of that man’s taxes might lead to state revenue problems. Billionaire hedge-fund manager David Tepper evidently pays a bundle, and the budget office director pointed out that the state’s reliance on personal income taxes means that even a 1 percent drop in anticipated tax could create a gap of $140 million over forecasts.
link