The Dem-run states losing population and taxable income like to say it is just older people who are retired anyway, but it isn’t. The people who have the most reason to flee high taxes and unlivable Dem hellhole cities are young, high-income single people and families. And they are leaving. This analysis of IRS data focused on younger people, aged 26 to 35, with an income over $200,000. On a net basis, accounting for both those leaving a state and moving in, once again, Florida and Texas lead the pack in gaining 2175 and 1909 of this group, respectively. New York and California lost 5062 and 4495, respectively. Illinois and Massachusetts were also big losers. If you are making $200,000 a year and your marginal state tax rate is 10%, or even higher, as in California and New York, you save $20,000 a year by moving to Florida. And I can personally attest to the fact that property and sales taxes are actually lower in Florida. Minnesota ranks 36th, with a whopping net inflow of 17 people in this age and income group. (SA Study)
This income group accounts for a disproportionate share of taxes paid among people of this age. In broader studies of all age groups, we see an even stronger flow of income out of the high-tax, i.e., Dem-run, states and to the low tax ones. It isn’t just taxes that account for the movement. Why deal with high crime, poor schools, bad infrastructure, extortionate utility rates, when you can move to a far more effectively run Rep state? When the Minnesota Department of Revenue finally gets around to releasing recent data on income migration, we will see an ongoing outflow of income, as the Dems work to make us just like California and Illinois.