In this Slay News article, new IRS migration data reveals a continued exodus of residents—and especially wealth—from high-tax states like California and New York to lower-tax states across the country.
- IRS data shows billions of dollars in adjusted gross income leaving California and New York in recent years
- High earners are disproportionately represented among those relocating, amplifying the financial impact
- States like Florida, Texas, and Tennessee are among the biggest beneficiaries of inbound migration
- The report highlights tax burdens, cost of living, and regulatory environments as key drivers of the trend
- California alone reportedly lost tens of billions in income as residents moved elsewhere
- New York saw similar outflows, continuing a multi-year pattern of population decline
- Lower-tax states are gaining not just population, but significant tax base advantages from incoming residents
- The migration trend is framed as evidence of policy-driven economic shifts between states
Read the full story: https://slaynews.com/news/irs-data-shows-mass-exodus-california-new-york-billions-income-flee-high-tax-states/
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