Trump to Make Florida His Permanent Residence Due to Lower Taxes

By Staff, Agencies  

US President Donald Trump confirmed on Twitter Thursday night that he would be moving his permanent residence to Palm Beach, Fla., blaming local New York leaders for the move, who the president argued had treated him "very badly."

In a series of tweets, Trump wrote that the Empire State would "always have a special place" in his heart, while adding that "few have been treated worse" by its leadership despite paying "millions" in taxes.

“1600 Pennsylvania Avenue, the White House, is the place I have come to love and will stay for, hopefully, another 5 years as we MAKE AMERICA GREAT AGAIN, but my family and I will be making Palm Beach, Florida, our Permanent Residence.”

“I cherish New York, and the people of New York, and always will, but unfortunately, despite the fact that I pay millions of dollars in city, state and local taxes each year, I have been treated very badly by the political leaders of both the city and state. Few have been treated worse.”

“I hated having to make this decision, but in the end it will be best for all concerned. As President, I will always be there to help New York and the great people of New York. It will always have a special place in my heart!”

The news of Trump moving his residence to Palm Beach emerged earlier Friday, prompting New York's Governor Andrew Cuomo to respond on Twitter: "Good riddance."

New York remains among a number of high-tax states contending with an exodus of residents to lower-tax states – a trend that has ramped up after state and local tax [SALT] deductions were capped at $10,000 under the Tax Cuts and Jobs Act. Florida has no statewide income tax, estate tax or inheritance tax. Meanwhile, New York's top income tax rate is more than 8 percent.