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California and New York lose $640M of
tax revenue to migration, as conservative
Florida and Texas see coffers boosted
by $23.1BN

Original Article

Posted By: Imright, 7/29/2023 10:58:49 PM

California and New York have lost a combined $640m in tax revenue due to people moving out-of-state, as conservative Florida and Texas see boosts of $23 billion after an influx of movers. The two states currently top the table with the largest net negative tax income migration, with The Golden State taking the top spot. In total, California has seen $343 million leave the state, while New York is just under $300 million.High earners have now moved away from states like California including the likes of Twitter and Tesla boss Elon Musk, who lives in Austin, Texas. And Miami is also a celebrity hotspot,

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Reply 1 - Posted by: Jethro bo 7/30/2023 12:17:32 AM (No. 1523447)
No issue. Just make the remaining 'rich' pay more of their fair share. Problem solved.
6 people like this.

Reply 2 - Posted by: itsonlyme 7/30/2023 12:29:16 AM (No. 1523451)
The problem is many are escaping the self-inflicted cesspools and heading your way to form another cesspool. Pukes jumping from here to there.
9 people like this.

Reply 3 - Posted by: subal 7/30/2023 12:32:27 AM (No. 1523452)
Enjoying the government they voted for!
6 people like this.

Reply 4 - Posted by: Timber Queen 7/30/2023 1:16:33 AM (No. 1523464)
The sad thing is that Sacramento isn't paying attention. If there is any self-reflection happening it is not being reported in the press. The woke agenda is still going full steam ahead. But hey, the sun is shining and surf's up. What me worry?
8 people like this.

Reply 5 - Posted by: mifla 7/30/2023 3:58:14 AM (No. 1523475)
They don't care. They just pick up the phone and demand a bailout from the Feds/taxpayers.
12 people like this.

Reply 6 - Posted by: Msquared112 7/30/2023 7:11:10 AM (No. 1523515)
…and yet, Democrats will still not make the connection between business losses and the way they vote. Maroons.
5 people like this.

Reply 7 - Posted by: BarryNo 7/30/2023 7:23:09 AM (No. 1523520)
The math doesn't track. Florida and Texas are gaining 4x the value, California and New York are losing?
4 people like this.

Reply 8 - Posted by: Venturer 7/30/2023 8:26:08 AM (No. 1523558)
While they have taxpayers moving out of state they have a tax burden of illegals moving in. California and New York deserve what they get.
6 people like this.

Reply 9 - Posted by: tootall 7/30/2023 8:55:25 AM (No. 1523577)
#7, there's an economic principle called the 'multiplier' effect. The folks moving all that capital which is now not taxed in Ca /NY and other places, are creating jobs. Buying furniture and other things, which creates morejobs. It is Capitalism and Free Markets at work
7 people like this.

Reply 10 - Posted by: Safari Man 7/30/2023 8:59:15 AM (No. 1523581)
I own real estate in north TX and FL. It’s time for both states to stop bragging about how much revenue they take in and start lowering taxes.
5 people like this.

Reply 11 - Posted by: BeatleJeff 7/30/2023 9:20:24 AM (No. 1523596)
And all of the incoming migration of unskilled, uneducated illegals won't replace any of that lost revenue. In fact, all the welfare paid out to them will be an even bigger drain on the state's treasury.
3 people like this.

Reply 12 - Posted by: berthabutt 7/30/2023 9:37:29 AM (No. 1523603)
Is Texas seeing the insane rise in home owners insurance that Florida has?? How do fixed income owners with a paid off home afford ins as high as their old mortgages...maybe those moving in will have the jack to afford it? Zero headlines about what can be done for the people that drained the swamps, built the homes, paid for schools & city improvements but now can't survive & must sell.
4 people like this.

Reply 13 - Posted by: Strike3 7/30/2023 10:03:52 AM (No. 1523623)
Americans are adding insult to injury by leaving the states that coincidentally are carrying the massive debt created by their democrat governments. See how that works?
1 person likes this.

Reply 14 - Posted by: thefield 7/30/2023 10:44:04 AM (No. 1523657)
Just let Hunter and Joe and Jime pay their share. That will take care of the whole deficit.
1 person likes this.

Reply 15 - Posted by: dbdiva 7/30/2023 3:06:19 PM (No. 1523852)
The Governor of NY told Republicans to leave, that they weren't "real" New Yorkers ~ possibly because they aren't insane. They heard her and many left the state. You got want you asked for, Kathy. Apparently, the long-term consequences of your wish didn't occur to you at the time. Typically when people leave a state their money also goes with them. Uh-Oh.
3 people like this.

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