Friday, April 17, 2009
Tobias Out As Airport Authority President
A little more than year after his appointment by Mayor Greg Ballard, Indianapolis Airport Authority President Randall Tobias is stepping down. Why? He's moving to Hamilton County. Who is taking his place? Michael Stayton. Who is he? A former executive of the now-infamous Indianapolis Water Company and close friend of Jim Morris, another former water company executive who is now the chief executive of the Indiana Pacers organization. Ballard still plans to let Tobias sit on the board until he officially changes his residency to Hamilton County. Why are all of the wealthiest residents of Marion County continuing to flee into Hamilton County? Any wonder why, Mayor Ballard, the grassroots supporters who elected you have no confidence in your government?
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2 comments:
Guess Mr. Tobias' ex-wife to be will get to keep their home in Marion County...
Of course, if you make a lot of money moving to Hamilton County saves on your income taxes, right?
A $500,000 a year person would save something like $3,250 a year ... which after income taxes and such has to be equal to a net gain in after-tax income of around one full percentage point.
Most investors would love to figure out how to squeeze and extra 1% out of their investment returns and most of us would welcome an extra 1% raise. Just moving sometimes does the trick.
I read a great quote recently and have adapted it to this from an economics perspective: Taxes redistribute wealth in the short run and people in the long.
This is why New York, California and Illinois are losing population faster than any other states. It works on a small scale too.
[note: this explains just one of many reasons why people might flee Marion County and is not an exhaustive analysis of all potential reasons.]
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