NY and CA losing billions while states like FL are raking in the money. Weird how so many say FL is a terribly run state yet people keep moving here... https://www.cnbc.com/2023/05/02/new-york-california-lose-billions-in-income-to-low-tax-states.html New data from the Internal Revenue Service shows that New York state lost $25 billion in adjusted gross income due to outmigration in 2021, on top of $20 billion lost in 2020. California reported a net loss of $29 billion in 2021, following a loss of $18 billion in 2020. Combined, the two states lost $92 billion across the two years. The biggest winner in the migration has been Florida: The Sunshine State gained a net 128,000 households in 2021, bringing over $39 billion in income, according to the IRS data, a huge jump from the $28 billion gained by the state in 2020. Palm Beach County, which includes the exclusive town of Palm Beach, gained over $11 billion in income alone in 2021, according to the IRS.
Mostly Covid related and the top 1% moving to protect their wealth, but it comes with a cost of being the least affordable place in the nation to live. Florida is the least affordable place to live in the U.S.
Why was it covid related? All I've read on here is FL sucked at dealing with covid. Why would anyone want to come to FL during what you and others said FL did a terrible job? Weird...
The article specifically mentions remote work as a reason, not that Hooters opened a couple months sooner here
I’ll use New York as an example. Cuomo added a “millionaire’s tax” in 2020 as part of COVID-relief budget that hiked the top rate to 9.65% from 8.82%. The yuppies fled Manhattan for Palm Beach to avoid paying the tax. Let me say that this is just a normal transformational process, and if it continues Florida will eventually evolve into what NY and Calif are today.
It’s already happening. Florida has one of the most regressive tax systems in the nation. Eventually the tax burden will trickle up from to poor to the top earners. Who Pays? 6th Edition.
wow, did not know so many libbies left those 2 paradise states for poor ole florida, maybe not so dumb after all.
So it’s your belief that state and local services, Highway, building and bridge construction and maintenance, police and fire protection, and schools will not increase despite the influx of new residents?
Ironically considering his later positions, after they became available in January 2021 DeSantis was very effective in providing accessibility to the Covid vaccines. In fact, for a while there was actually problem with residents of other states visiting Florida to get vaccinated. Later Meatball Ron DeSanctimonious did a near 180 catering to the anti-vaxxers by prohibiting governmental entities and businesses from requiring vaccinations for their employees and clientele.
