Friday, June 3, 2022

Not Just People

The outmigration from so-called "blue states" continues apace, people moving from high tax, high cost of living, high regulation jurisdictions to those with lower tax, costs, and regulations. PJ Media runs a column which looks at the 2020 numbers. They report Wirepoints' findings about the losers:

  • New York was the biggest loser, netting a loss of almost 250,000 residents, who took with them a net of $19.5 billion in income — fully 2.5% of the state’s entire adjusted gross income (AGI) in 2019.
  • California did second-worst, losing a net of 263,000 residents and $17.8 billion in income.
  • The third biggest loser was Illinois, whose 101,000 emigrants took income worth $8.5 billion with them.
  • Massachusetts came in fourth with a net loss of $2.6 billion.
  • New Jersey took fifth place with $2.3 billion in lost income.
And the winners:
  • Florida was Americans’ number one destination, netting 167,000 new residents who brought with them $23.7 billion in new income — a hefty 3.3% of Florida’s total 2019 AGI.
  • Texas took second place with a net income increase of $6.3 billion.
  • Third-place Arizona gained $4.8 billion.
  • North Carolina took fourth place with an income increase of $3.8 billion.
  • South Carolina came in at number five with a net increase of $3.6 billion.
It is called "voting with your feet" and it affects a state's financial position.