On the heels of last night's Democratic primary debate in Houston, Fox Business Network host Stuart Varney sees warning signs flashing for the country, as one of New York state's richest citizens says he's getting out of town.
Iconic Wall Street investor, Carl Icahn is reportedly moving to Florida because the taxes in New York City are too high, according to Bloomberg.
ICAHN IS LATEST TO FUEL NEW YORK CITY EXODUS
“Carl Icahn is leaving New York and he’s taking most of his employees with him. They are relocating to Florida," said Varney on his Fox Nation show "My Take."
Varney said the trend is troubling even some on the Left. "The rich are leaving in droves -- taking their money with them. There are some who would say 'good riddance, get out of here' but more sober Democrats are quietly rather nervous."
“The high-tax, largely Democrat-run states, are paying a big price for their decades of economic incompetence," said Varney blaming supposed government mismanagement for the flight of the uber-wealthy from certain states.
Varney warned that this 'soak the rich' mentality is not only limited to city and state officials.
"If a Democrat wins the 2020 election they’ll go after everything that you’ve got left," said Varney, adding, “It’s pile on the rich time. It’s all their fault ... There is no sign that this is going to change. We have heard no Democrat at the state or federal level suggest a tax cut of any kind.”
“If tax to the max was a success then high-tax states would be booming, but they are not. It is low-tax Republican-states that are growing fast," he concluded.
To see Stuart Varney's full commentary on "My Take", and for more episodes of his daily commentary, visit Fox Nation and join today.
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