New York and California experienced the largest loss of tax income from migration of any states as residents fled the deep-blue havens in droves, according to a new study.
New York and California experienced thefrom migration of any states in the country as residents fled the deep-blue havens in droves, according to a new study that also found that Texas and Florida got the biggest IRS tax benefits from people moving in.
Another effect of fewer people, as reflected in MyEListing's findings, is an erosion of California's tax base, already one of the country'swith the nation's highest top income tax rate at 13.3% among other onerous taxes. A high cost of living is another major factor for many. Some have also cited other social and cultural factors, such as the homeless crisis that is devastating major cities such as Los Angeles. popping up along the streets of the city, coinciding with rising crime rates and creating scenes of trash, needles and even human feces and urine in public areas.
Newsom added that, per capita,"more Floridians move to California than California is moving to Florida." migrating from predominantly blue states with steep taxes, with about 319,000 Americans making the move there, according to data from the National Association of Realtors. That amounts to a population increase of nearly 2%, well above the 0.4% national growth rate in the U.S. from July 2021 to July 2022.
The 10 states with the highest taxes lost nearly one in 100 residents in net domestic migration between July 2021 and July 2022, while the 10 states with the lowest taxes gained almost one in 100, according to a recent analysis by James Doti, president emeritus and economics professor at Chapman University.
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