Population and Income Redistribution

People are moving from politically blue States to politically red ones, and they’re taking their money with them.

Four states have lost population since 2010 including West Virginia (-3.3%), Illinois (-1.2%), Vermont (-0.3%) and Connecticut (-0.2%), but 10 experienced declines last year. New York was the biggest loser as a net 180,000 people left for better climes. Over the last decade New York has lost more of its population to other states (7.2%) than any other save Alaska (8%), followed by Illinois (6.8%), Connecticut (5.6%) and New Jersey (5.5%).

And

[Illinois] lost $5.6 billion in adjusted gross income last year to other states, about twice as much as in 2012.

In the last two years New York has lost a net $18 billion in adjusted gross income.

Last year California lost $8 billion in adjusted gross income to other states, up from about $135 million in 2012.

And

Where are high-tax state exiles going? Zero income tax Florida drew $16.5 billion in adjusted gross income last year. Many have also fled to Arizona ($3.5 billion), Texas ($3.5 billion), North Carolina ($3 billion), Nevada ($2.3 billion), Colorado ($2.1 billion), Washington ($1.7 billion) and Idaho ($1.1 billion).

Just so long as those transplants don’t bring with them the same foolish politics that generated the economic failures of the States they’re leaving.

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