The top five states that have lost the most tax revenue thanks to citizens moving away and taking their income taxes with them have one thing in common… yeah, you guessed it, they are all Democrat-infested states.
In fact, these five worst states have lost not millions, but BILLIONS each as citizens pick up and flee and take all their money with them to another (and almost always red) state.
Recently the Florida Chamber of Commerce tallied up the tax money that these five states have lost thanks to fleeing citizens, and the numbers are staggering.
The latest data collected on the subject, showing the loss to blue states from July 2021 to June of 2022 (later data is not yet available) shows that all five big losers are some of the biggest Democrat states.
Take a look at this massive loss of state income taxes:
- New York with $9.8 billion in lost income
- Illinois lost $3.9 billion
- New Jersey lost $3.8 billion
- California is down $3.5 billion
- Pennsylvania is out $1.9 billion
Each state is more burdened by Democrats than the next, here.
The Epoch Times pointed out that California is losing at least $340 million a year in lost revenue as residents pack up and move out.
“California lost nearly 700,000 residents from April 2020 to July 2022, according to the U.S. Census Bureau,” Epoch Times noted.
“Data released by the Internal Revenue Service in May revealed about 332,000 taxpayers left the state between 2020 and 2021. This resulted in a $29.1 billion loss of taxable personal income in 2021, following a loss of $18 billion in 2020,” the paper added.
And where are these people moving to?
Texas, Florida, Tennessee, and other no or low tax states.
Let’s just hope these fleeing residents learn a lesson from having to flee and don’t bring their idiot, destructive, anti-American, left-wing politics with them.Commentary