New Jersey Governor Phil Murphy once told the people of his state if taxes are your number one issue, then New Jersey is not the right state for you. That message resonated with NFL wide receiver Tyreek Hill who listened to Murphy’s words and took his advice.
Hill turned down a trade to the New York Jets, who actually play their games in East Rutherford, New Jersey, instead, opting for the Miami Dolphins and lower taxes in Florida.
Hill said the deal with the Jets was nearly done until he realized he would have to pay 10.75 percent in individual income tax.
“It was very close to happening, but it was just those state taxes, man,” Hill said about the trade. “I realized I had to make a grown-up decision, and here I am in a great city in Miami. It’s great weather. Great people. Beautiful people. Here I am.”
While a member of the Kansas City Chiefs, Hill paid just 5.4 percent income tax in Missouri.
New Jerseyans are amongst the highest-taxed Americans in the United States.
Governor Murphy’s opponents used Hill’s comment to highlight the governor’s indifference toward New Jersey residents and their concerns.
“If a professional athlete like Tyreek Hill is making a major career decision to avoid New Jersey’s ludicrously high taxes, you can be sure that financial professionals, entrepreneurs, and other high earners are doing so as well,” said Senator Declan O’Scanlon (R-Monmouth), who serves as the Senate Republican Budget Officer. “It’s undeniable that our high taxes impact behavior, which costs the New Jersey economy billions in income, countless jobs, lost productivity, and unrealized revenue. For teams like the Jets and Giants and their fans, New Jersey’s uncompetitive tax rates limit their access to the best talent who could save millions by playing almost anywhere else.”
By choosing Miami instead of New Jersey, Hill realizes a tax savings of nearly 13 million dollars on his 120 million-dollar contract extension.
“Tyreek Hill scored a touchdown for his finances while Democrats who are driving tax policy in Trenton have repeatedly fumbled the ball,” added O’Scanlon. “More and more New Jerseyans are realizing that you don’t need to be an NFL superstar to save meaningful amounts of money by moving to a lower-tax state.”
The Dolphins will be in New Jersey this week to play the Jets.