The High-Tax Wealth Flight Continues – Wall Street Journal

 
States with the highest taxes continue to lose the most income to other states. California lost on net $11.9 billion, mostly to Texas, Nevada and Arizona. Other big losers include New York ($9.9 billion), Illinois ($6 billion), Massachusetts ($4 billion), New Jersey ($2.6 billion), Maryland ($1.8 billion) and Minnesota ($1.5 billion).
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Wally
1 month ago

What started as a trickle, Ken Griffin moving to FL, has turned into a flood. Billionaires moving out of CA and NY, Boeing moving from VA to MO, Apollo opening office in TX or FL. Jamie Dimon warning blue states. These companies are not sitting around waiting to see what happens, they see the handwriting on the wall with Newsom, Mandami, Spanberger, etc. Economic realities do not deter these blue states Democrats, nor do huge budget deficits. Raising taxes will do it.

Irish Patriot
1 month ago

Florida just added several new billionaires including both Google founders and Facebook CEO Zuckerberg, and quite a few others that are quiet under the radar. New York’s governor two weeks ago was begging NY’s billionaires to move back to NY. Once they’re gone, they’re gone forever.

Wally
1 month ago
Reply to  Irish Patriot

Saw the reply of one NY billionaire to Hochul asking them to go back—“Hell no, we won’t go!”

Leaving Soon, just not soon enough
1 month ago

People with large incomes create a lot of economic activity and the whole area benefits. Lots of jobs are created for the working class.

Da Judge
1 month ago

Buh Bye Taxistan. PPF your taxes are going WAY UP!! States Are Running a Tax Experiment and Red America Is Winning Taken together, these reports suggest that state tax policy now marks a sharper political and economic split. Americans move for many reasons, but the migration pattern favors states with lower costs and, in many cases, lighter tax burdens.  Economist Charles Tiebout developed the idea later associated with “voting with your feet,” arguing that people reveal preferences not only through elections, but through mobility as well. By choosing where to live, they choose among different combinations of taxes and… Read more »

The Railroader
1 month ago

Ralphie Martire needs another box of Kleenex as he tearfully rues the departure of all that productivity that his political animal pals won’t be able to confiscate and skim. Boo hoo, Ralphie.

Leaving Soon, just not soon enough
1 month ago

Ken Griffin made the best choice of his life.
Miami, FL Weather Forecast | MSN Weather

Da Judge
1 month ago

Sounds like Taxistan!!

When partisan gerrymanders and public-union machines entrench one-party Democratic governance, people who can’t affect political change at the ballot box vote with their feet. And they are taking their wallets and mutual funds with them.

bhij
1 month ago
Reply to  Da Judge

California’s 2010 switch from party primaries to a top-two combined primary was promoted as a way to end partisanship. Which it did, by converting a two-party system into a one-party system. Voting with our feet is all that’s left.

Wally
1 month ago

Facts that Democrats, especially IL Democrats, ignore. Smart voters move, those that stay behind get what they asked for.

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