AMERICANS ARE FLEEING BLUE STATES AND RED STATES ARE CASHING IN
Shared By Peter Boykin – Candidate for Lieutenant Governor of North Carolina 2024 / American Political Commentator / Citizen Journalist
AMERICANS ARE FLEEING BLUE STATES AND RED STATES ARE CASHING IN
New data from the IRS shows Americans are fleeing high-tax blue states for low-tax red states – and they’re taking their tax revenue with them.
Every year the Internal Revenue Service (IRS) publishes a report on how U.S. taxpayers’ adjusted gross income (AGI) has moved from state to state over the year.
The latest report reflects 2021.
The three biggest losers were all high-tax Democrat-run states:
California lost 331,760 people and $29.1 billion in AGI
New York lost 262,216 people and $24.5 billion in AGI
Illinois lost 105,000 people and $10.9 billion in AGI
The three biggest winners were low-tax Republican states:
Florida gained 255,834 people and $39.2 billion in AGI
Texas gained 174,866 people and $10.9 billion in AGI
North Carolina gained 76,720 people and $4.5 billion in AGI
*North Carolina does have a Democrat governor, but its legislature is controlled by Republicans and the state voted for Trump in 2020.
These trends are especially worrisome for blue states because the residents who leave earn considerably less than the state’s median average.
For example, California’s median income is about $84,000. The average salary of residents fleeing the state is $183,787.
So these blue states, which rely on heavily taxing high earners, are driving those same high earners away because of their high taxes. It’s like a snake eating its tail.
[Source: Just the News, WSJ]
https://www.wsj.com/articles/illinois-j-b-pritzker-taxes-states-irs-ec3da356
