The higher the state tax rate, the greater the migration outward.
From Martin Amstrong
The US Census
report has shown that the net migration from the New York City area has surged
during 2016, and that even included myself. Indeed, much more people are
leaving the New York region than any other major metropolitan area in the
country. Since 2010, the New York area has lost almost 4.5% of its
population. This included New Jersey, Connecticut, Long Island, and the
lower Hudson Valley. The number of people who left in 2015 was 187,034. Last
year, 2016, that number jumped to 223,423. The number of international
immigrants settling in the tri-state area declined from 181,551 to 160,324. The
international migration has slowed and this trend means that taxes will only
rise.
Meanwhile, Cook County, Illinois has lost more population than
any other county in the United States from July 2015 to July 2016, according to
the latest U.S. Census Bureau report. Clearly, the highest taxed states are
losing the most people. Nevertheless,
the data clearly shows that the higher the state tax rate, the greater the
migration outward.
The State of New
York as a whole lost 95,591 people and California came in second losing 93,915
with New Jersey losing 76,175, Illinois lost 52,804, and Michigan losing
47,347.
The three states at
the top of the list for destinations are Texas posting a gain of 109,887
people, Florida 61,395, and Colorado 41,501.
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