Richardcyoung.com

The Online Home of Author and Investor, Dick Young

Top 5 Loser States

By

You don’t want to be stuck in a loser state. In 2013 more than 200,000 people left states with Democrat governors for ones with Republicans according to Americans for Tax Reform. “People move away from high tax states to low tax states. Every tax refugee is sending a powerful message to politicians,” said ATR President Grover Norquist. “They are voting with their feet. Leaders in Texas and Florida are listening. New York and California are not.” From ATR:

Top 5 loser states for Democrat governors in 2013:

  • New York (114,929 people with $5.7 billion in AGI)
  • Illinois (68,943 people with $3.8 billion in AGI)
  • California (47,458 people with 3.8 billion in AGI)
  • Connecticut (14,453 people with $1.8 billion in AGI)
  • Massachusetts (11,915 people with $1 billion in AGI)

Top 5 winner states for Republican governors in 2013:

  • Texas (152,912 people with $6 billion in AGI)
  • Florida (74,094 people with 8.3 billion in AGI)
  • South Carolina (29,176 people with 1.6 billion in AGI)
  • North Carolina (26,207 people with $1.5 billion in AGI)
  • Arizona (16,549 people with $1.5 billion in AGI)

The single largest net migration from one state to another took place between New York and Florida (17,355 people).

 

Here’s a map from The Tax Foundation of some similar data. It would appear the the moves outlined by ATR are the continuation of longer term migration trends from higher-tax states to lower-tax states.

Tax-foundation-migration-map

The following two tabs change content below.

E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.