Source: Fox News
Summary
According to IRS migration data, Americans are moving to Southern and Sun Belt states, leading to a population and wealth shift away from coastal blue-state strongholds. Texas and Florida led the nation in inbound migration between 2022 and 2023, gaining residents and taxable income. Other states, such as North Carolina, South Carolina, Tennessee, and Arizona, also ranked among the top destinations for interstate movers. Meanwhile, California, New York, Illinois, and New Jersey recorded significant outbound losses.
Our Reading
As expected, the matter has reached another stage.
Taxpayers and residents are voting with their feet, flocking to lower-cost, lower-tax states. Texas and Florida are gaining speed, while California and New York are losing steam. The numbers are staggering: $20.6 billion in taxable income gained by Florida, $5.5 billion by Texas. The Sun Belt is shining bright, while the coasts are feeling the pinch. And in the midst of it all, politicians are left to wonder: what’s the price of progress?
Author: Evan Null
