People are fleeing high tax states and relocating to states such as Tennessee, according to Stephen Moore of the American Legislative Exchange Council.
These people are leaving high-tax states such as New York, New Jersey, Connecticut, and Illinois, according to Bizpacreview.com
They’re headed not just to the Volunteer State but also to Florida, Texas, Utah, and North Carolina, Moore reportedly said.
“This is the big demographic story of our country,” Moore said this week during an appearance on FOX News.
“It may be the biggest political economic story that’s happening in America — the transformation where people are moving out of the high-tax states at a rate of about 1,000 people every day to low-tax states.”
Moore went on to call New York, New Jersey, Connecticut, and Illinois the “four states of the apocalypse” because they have high taxes and “huge budget problems.”
“Where are those people leaving to?” Moore reportedly asked.
“Where are they going? Certainly Florida. Then Tennessee, Texas, Utah, North Carolina. By the way, There’s something similar about Texas, Tennessee, Florida. No income tax, and boy does that make a difference.”
As The Tennessee Star reported last year, people move out of states with high tax burdens, more regulations and fewer jobs to states with fewer taxes and regulations and more jobs. The former tend to be in Democratic-controlled states, while the latter tend to be in Republican-controlled states.
That report last year came from Mark J. Perry at AEIdeas, a public policy blog from American Enterprise Institute, a think tank. Perry is a professor of economics and finance at the University of Michigan’s Flint campus. He is known as the creator and editor of the economics blog Carpe Diem.
Perry refers to a Carpe Diem post he made last month in which he studied household moving data from North American Moving Services’ US Migration Report for 2017. Measures included economic performance, business climate (right to work, for example), business climate and individual taxes.
The top five outbound states (where people leave) are: Illinois, Connecticut, New Jersey, California and Michigan. Illinois, Connecticut and New Jersey tied for the worst at 38 percent inbound but 62 percent outbound.
The top five inbound states (which gain population) are: Arizona, Idaho, South Carolina, North Carolina and Tennessee. For example, in 2017, Tennessee had an inbound rate of 58 percent compared to an outbound rate of 42 percent. (Arizona had the best rate of 67 percent inbound and 33 percent outbound.)
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