Now that LeBron James has decided to head back to the Cleveland Cavaliers, it will be interesting to see if the current trend of NBA Champions coming from states that lack an income tax will continue. There are 7 states with zero income tax; Florida and Texas are two of them. These are the past four NBA champions:
2014 San Antonio Spurs
2013 Miami Heat
2012 Miami Heat
2011 Dallas Mavericks
In the last four NBA finals only the Oklahoma City Thunder, losers to Miami in 2012, hailed from a state with an income tax.
NBA stars make millions of dollars in salary. There is no way states could tax them in other ways – sales & property – to make up for what the players save in avoiding income taxes.
One of my favorite authors is the Christian economist, Gary North. He has a saying: the 8th commandment says thou shalt not steal. It doesn’t say thou shalt not steal, except by majority vote.
Seems a majority of NBA stars are voting to move to states without income taxes. Good for them.