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

[TroglocratsRdumb]

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.

 

[lennypartiv]

It's not all good news. The new residents will mean more drivers and more wear and tear on the roads. That's going to cost money.

The bigger problem is the possibility of Texas turning purple with the influx of liberal Californians and the Hispanics who live there and breed like rabbits.

 

[Dekster]

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.

 

[Flash]

We have such a tax surplus from DeSantis here in Florida that we have tax holidays. For instance , last fall it was a month without the state gasoline tax. They are exempting more things from the state sales tax. We have tax holidays for school supplies and even recreational things.

Meanwhile the Democrat controlled commie shitholes go farther in debt.

 

[beautress]

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.

Your comment is telling a lot of truth. The trouble with open-mindedness to the degree that homeless people are setting up homestead on other people's sidewalks, and people in the cities that do nothing to stop it are sick and tired of having to watch where they step or have previously clean shoes smelling like an open sewer for the rest of the day has gone from the ridiculous to the sublime, or should I shorten that to "slime." Some people throw up when they smell stuff like that, and the smart ones leave and go to a state that has a lot going for it but it doesn't put up with manpies that can literally cause falls into, yep, stinky, disease-causing stuff full of e. coli and worse. People leaving the open sewers of California and the once-immaculate New York City's homeless and mindless conditions of people who grow mentally sick from living on filthened concrete that smells far worse than an unkempt barn with a chickenshit area under a shade tree.

 

[RhodyPatriot]

People are voting with their feet.

Just read an article that even the Oakland, CA NAACP has had it with "Defund the Police" and wrote an excoriating letter to the City Council - even largely condemning "progressivism".

The pendulum is definitely in motion.

 

[RhodyPatriot]

We have such a tax surplus from DeSantis here in Florida that we have tax holidays. For instance , last fall it was a month without the state gasoline tax. They are exempting more things from the state sales tax. We have tax holidays for school supplies and even recreational things.

I dunno, that all sounds pretty racist to me.

 

[beautress]

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.

It's not all good news. The new residents will mean more drivers and more wear and tear on the roads. That's going to cost money.

The bigger problem is the possibility of Texas turning purple with the influx of liberal Californians and the Hispanics who live there and breed like rabbits.

Liberals? Oh? They moved to a better place where they are convinced their lives will be better in a civil environment. Chances are their experiences with "liberals" may have caused them to be a little more chary than they were in CA or NY, where politics have gone mad with wokeness that changes face three times a week minimum. Right now, the states are baking, and sidewalks used as the sewer are a danger to public health and stability. We just build more houses and treat newcomers with respect and a box of fresh-baked chocolate chip cookies with pecans when they move in next door. The newcomers do their share to prevent their bad luck in the poopoo sidewalk states they left out of being sick at their stomachs from unsavory piles outside the too-close-for-comfort tent cities.

 

[Anomalism]

It's not all good news. The new residents will mean more drivers and more wear and tear on the roads. That's going to cost money.

The bigger problem is the possibility of Texas turning purple with the influx of liberal Californians and the Hispanics who live there and breed like rabbits.

They could turn Florida back to purple too. And yes, they really will fuck their own states up, move to comfortable red states and then fuck those up too.

Florida native by the way.

 

[TroglocratsRdumb]

There are also a lot of people who move from Chicago to the Republican states.

 

[JackOfNoTrades]

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.

Who will then eventually....become California and New York.

 

[kyzr]

NY and CA are fiscal basket cases, and its only getting worse.

I remember when NYC almost went bankrupt. There was no Federal bailout.

The Night New York Saved Itself from Bankruptcy

By some estimates, New York’s default would bring down at least a hundred banks, and expose others to liability for selling suspect or fraudulent products.

www.newyorker.com

President Ford began hearing from leaders around the world about the dangers of a New York default. His press secretary, Ron Nessen, said that Ford would continue to monitor the situation throughout the day, but wouldn’t change his mind about granting assistance to the city. In Nessen’s words, “This is not a natural disaster or an act of God. It is a self-inflicted act by the people who have been running New York City.”
The teachers’ union was in a bind. Shanker later called it blackmail. If NYC went bankrupt, a judge could order thousands of teacher dismissals, undo the raises the teachers had recently negotiated, and override any pension laws, stripping retirees of their pension checks.

Just imagine when CA & NY bonds become junk and they can't borrow to cover expenses. If they raise taxes, more companies and people leave.
Yet the voters keep the failed policies. Looks bleak.

 

[ColonelAngus]

We have such a tax surplus from DeSantis here in Florida that we have tax holidays. For instance , last fall it was a month without the state gasoline tax. They are exempting more things from the state sales tax. We have tax holidays for school supplies and even recreational things.

Meanwhile the Democrat controlled commie shitholes go farther in debt.

DeSantis made permanent sales tax holidays on essential baby stuff like diapers and formula. No sales tax on those items.

I would like to see blue motherfuckers go north.

SNOWFLAKES MELT IN FLORIDA.

 

[beautress]

It's not all good news. The new residents will mean more drivers and more wear and tear on the roads. That's going to cost money.

The bigger problem is the possibility of Texas turning purple with the influx of liberal Californians and the Hispanics who live there and breed like rabbits.

We like people in Texas. Some of our best friends were born in other states or countries, and we aren't called the "Friendship State" for nothing. My mom became best friends with a wonderful lady named Char Hoffman from Baltimore back in the early fifties. They moved in next door a week after we moved in the neighborhood. They played dominoes and card games several times a week, and they talked about what they went through in WWII that ended 7 or 8 years earlier. Us kids learned about their rationing of certain grocery items that had to be sent overseas so the soldiers would have plenty of the basic fours or sevens to eat. They also talked about their Rosie the Riveter days, and we learned all kinds of stuff we'd never have otherwise known if Aunt Char hadn't come over with a plate loaded with her Boston Cream pie now and then. Mom paid her back with an occasional blackberry pie. It was kinda fun to be a kid with moms that hit it off so well back then. No, we'll never turn our backs on fellow Americans here in Texas.

 

[DudleySmith]

It's not all good news. The new residents will mean more drivers and more wear and tear on the roads. That's going to cost money.

The bigger problem is the possibility of Texas turning purple with the influx of liberal Californians and the Hispanics who live there and breed like rabbits.

Yes, and taxes will have to go way up as they flood an infrastructure already strained by criminal illegal aliens and completely inadequate to handle such a big surge in a short time.

 

[ColonelAngus]

NY and CA are fiscal basket cases, and its only getting worse.

I remember when NYC almost went bankrupt. There was no Federal bailout.

The Night New York Saved Itself from Bankruptcy

By some estimates, New York’s default would bring down at least a hundred banks, and expose others to liability for selling suspect or fraudulent products.

www.newyorker.com

President Ford began hearing from leaders around the world about the dangers of a New York default. His press secretary, Ron Nessen, said that Ford would continue to monitor the situation throughout the day, but wouldn’t change his mind about granting assistance to the city. In Nessen’s words, “This is not a natural disaster or an act of God. It is a self-inflicted act by the people who have been running New York City.”
The teachers’ union was in a bind. Shanker later called it blackmail. If NYC went bankrupt, a judge could order thousands of teacher dismissals, undo the raises the teachers had recently negotiated, and override any pension laws, stripping retirees of their pension checks.

Just imagine when CA & NY bonds become junk and they can't borrow to cover expenses. If they raise taxes, more companies and people leave.
Yet the voters keep the failed policies. Looks bleak.

Piece of shit murdering Cuomo wanted federal aid for COVID, BUT WANTED TO PAY OFF NEW YORK DEBT WITH THE MONEY.

What a piece of shit.

 

[ColonelAngus]

They could turn Florida back to purple too. And yes, they really will fuck their own states up, move to comfortable red states and then fuck those up too.

Florida native by the way.

I do not see Florida going purple. We have CNN doing stories about snowflakes going north because Florida is so red and DeSantis is a NAZI!

GTFO!

Hopefully people who move to the free state of Florida keep it red.

 

[JGalt]

We have such a tax surplus from DeSantis here in Florida that we have tax holidays. For instance , last fall it was a month without the state gasoline tax. They are exempting more things from the state sales tax. We have tax holidays for school supplies and even recreational things.

Meanwhile the Democrat controlled commie shitholes go farther in debt.

 

[Independentthinker]

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.

No big deal. There is a very simple solution to this problem. All they have to do is tax the remaining residents more.

 

[beautress]

There are also a lot of people who move from Chicago to the Republican states.

I met my future husband when he moved from Chicago to the Republican town of Casper, Wyoming. He was born and raised in Chicago and was an Illini graduate in engineering. He gave me the best 44 years of my life until he passed away in June of 2013. I can't say enough good things about Chicago people. They're great people and my husband spent his life doing good things for others at all time, and his sense of humor was through the roof. All I have to do is think of him and his good-natured jokes. Most people weep when they lose such a special loved one as him, but he spent his time thinking up ways to make people laugh, and he practiced on me. He made sure all my memories of him were associated with laughter, and this may sound weird, but when I think of him, I remember his hilarious jokes and I can't help but laugh a little bit, and smile about his sly jokes when I think of him. Chicago has a way of putting out some great people. Some of his college buddies would look him up in the summertime, and we'd drive them around to see all the natural beautiful places in Wyoming, and they were all in awe of his terrific sense of humor. I smile to think of his pals, too. He had a way of making everybody laugh, and he was adored for it.