Blue state greed leads to fleeing taxpayers

 PJ Media:

A new analysis of IRS data shows the financial consequences of gaining or losing population can be either extremely rewarding or devastating to individual states. In 2020, blue states repelled the highest earners while red states attracted them, resulting in massive economic losses and gains.

Wirepoints, an Illinois-based research organization, took a look at the latest migration data released by the IRS and drew some conclusions that should leave Democrat-run states in a cold sweat, wondering how they’ll ever be able to maintain their profligacy.

In the competition for America’s best and brightest residents, the most populous blue states are becoming perennial losers. In 2020, New York, Illinois, California, Massachusetts, and New Jersey suffered net losses in their population, with high-earners taking their income — and tax base — with them....
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Not only are fewer people moving into these sputtering states than are moving out, but the newcomers tend to bring less wealth with them than the leavers took. For example, people who moved to Illinois in 2020 made, on average, $30,600 less than those who departed. When taken as a percentage of the state’s 2019 AGI, this was a 1.9% loss for Illinois, making it second only to New York state for lost income as a percentage of state AGI.

Heading up the winner’s column were Florida, Texas, Arizona, North Carolina, and South Carolina....
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Big blue states have been resting on their laurels for generations, counting on their traditional cachet to lure big earners. At the same time, these liberal-run states have adopted policy after policy that chipped away at their citizens’ quality of life as well as their ability to generate income: increased regulation and micromanagement; higher taxes; bizarre culture war accommodations; and crime-friendly reforms all contribute to worsening conditions. Intrusive mask and vaccine mandates and heavy-handed shutdowns during the COVID-19 era were the last straw.
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Government greed has its consequences.  People who make the most are usually smarter and more mobile and can find states that are not as greedy.

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