It may not be a bad idea, providing you don't have a lot of friends or family you want to visit regularly (almost certainly more expensive from there). One cautionary note, I have a co-worker who moved to Greece from England, and had a great life style for a while, because Greece only charged income tax if you worked for a Greek company, which he didn't, and his home country, England, like almost everywhere in the civilized world but the US, only charged income tax if you lived in England. Net result, he paid no income tax, and they didn't charge property tax on homes owned by foreigners.
Unfortunately, during the recent Greek fiscal crisis they changed the tax law and imposed a 60% income tax. They also made it retroactive to the previous year. And he wanted to move back to England, which has a 50% tax rate, and he said they don't have reciprocity, so he would have owed 110% of his income the year he moved (plus the 60% from the previous year). They also now have a stiff property tax, so he can't even sell his property, as all the other foreigners who owned "free" property there are also trying to sell.
Moral of the story, be a little careful about taking major fiscal steps based on tax laws, they can change in very arbitrary ways very suddenly. Say, isn't Puerto Rico going through a controversial fiscal crisis? :)
