California and New York are losing their tax revenue to Florida and Texas

[BluesLegend]

Dem shithole states want the rest of the country to pay off their debts. If that happened the dumb asses would go right on borrowing.

 

[Flash]

Dem shithole states want the rest of the country to pay off their debts. If that happened the dumb asses would go right on borrowing.

One of the first things the Democrat filth did in 2020 after unsealing the border to allow all the Illegal shit to flood in was to come up with both Democrat state and big city bail out money. They called it dishonest names like pandemic relief and infranstructure but it was nothing more than paying off Democrat incompetency debt.

 

[AZrailwhale]

If your company moves, you either have to move with it or be unemployed. I wouldn't assume that many or most of these are individual decisions by residents deciding to flee. It could very well be that Florida and Texas are just better at economic development payola.

Taxpayers are flooding out of California. The middle class is immigrating to places that don’t view the members of the middle class as sheep to be shorn to prop up the rich and very poor.

 

[CrusaderFrank]

California lost $29 billion in adjusted gross income from migration out of the state in 2021 and $18 billion the year before, according to IRS data. Meanwhile, the Empire State lost $25 billion in 2021 and $20 billion in 2020.

California lost more than $340 million in 2021 IRS tax revenue as residents fled the progressive haven, according to online real estate portal MyEListing.com. Between January 2020 and July 2022, outmigration in the state surpassed in-migration by almost 700,000 residents.

“Despite its numerous attractions, from the booming tech industry and world-class universities to beautiful landscapes and cultural richness, California’s high personal income tax rates seem discouraging for many high-wealth individuals,” MyEListing wrote in its analysis. “This, coupled with the state’s high cost of living, will likely fuel a wealth migration out of California.”

But roughly 319,000 Americans moved to the Sunshine State last year, for the largest in-migration of any state, per the National Association of Realtors. As such, the state has experienced a $12.4 billion increase in tax revenue — the largest income from in-migration.

“High-income earners are increasingly choosing the Sunshine State, reflecting an age-old economic axiom: Money goes where it is treated best,” the study said

Texas came in second with $10.7 billion in new revenue from migrating residents.

New York, California Had Largest Loss of Tax Income of Any States due to Outmigration | National Review

New York and California saw the largest loss of tax income from migration of any states, according to a new study of IRS migration data.

www.nationalreview.com

Comment:
Florida and Texas are increasing their tax revenues from those people who are leaving California and New York.
Democrat States destroy their own tax revenue with their high tax rates, incompetent polices and regressive "Progressive" culture.
Hopefully they will not also destroy the Red States.

NYC is looking at a $12 Billion deficit!

They need more illegals!

$lava Ukraine!

 

[kyzr]

One of the first things the Democrat filth did in 2020 after unsealing the border to allow all the Illegal shit to flood in was to come up with both Democrat state and big city bail out money. They called it dishonest names like pandemic relief and infranstructure but it was nothing more than paying off Democrat incompetency debt.

House Republicans need to cut off the money that feeds illegal immigration.

 

[wamose]

It'll all work out. Texas, out of the kindness of their heart, is sending NY and Cali plenty of cheap labor to rebuild their economy with.

 

[JackOfNoTrades]

House Republicans need to cut off the money that feeds illegal immigration.

You mean, the money that those corporations that hire those "illegals" that come from generous donations from Republican politicians???.....Vicious...Circle....