No Joy in Mudville aka Wrigleyville?

“Blue State Exodus Accelerates,” esp in Land of Lincoln, as the Got Rocks are leaving faster than the No Rocks coming in from likes of East St. Louis & Tijuana. Net result? Rich getting richer, poor getting poorer?

As the WSJ’s summation noted, “New IRS data for 2021 shows voters fleeing Illinois, among other … high-tax states.” According to those IRS figures, “a net 105,000 people left Illinois in 2021, taking with them some $10.9 billion in AGI. That’s up from $8.5 billion in 2020 and $6 billion in 2019. New York’s income loss increased to $24.5 billion in 2021 from $19.4 billion in 2020 and $9 billion in 2019. California lost $29.1 billion in 2021, more than triple what it did in 2019 … By contrast, the lowest tax states added some $1-00 billion in income during the pandemic. Zero-income tax Florida gained $39.2 billon – up form $23.7 billion in 2020 and $17.7 billion in 2019. About $9.8 billion of the total arrived from New York, $3.9 billion from Illinois, $3.7 billion from New Jersey & $3.5 billion from California.”

Here's the kicker: “A major problem for high-tax states is that their escapees often pay more in taxes than their newcomers,” says the WSJ. “The IRS data shows that the taxpayers leaving Illinois & New York typically made about $30,000 to $40,000 more than those arriving.” And where might those migrations in be coming from?

Davd Soul