California residents of all ages and incomes are leaving for more tax friendly climates, and they're taking billions of dollars in annual income with them.
California, the nation's most-populous state, lost more tax filers and dependents on net than any other state.
Minus incoming filers, California shed a net 165,355 tax filers and dependents between the two tax years, representing a loss of $8.8 billion in net adjusted gross income.
Neighboring Arizona saw 53,476 total filing exemptions come from California.
Brandon Ristoff, a policy analyst with the California Policy Center, reacted to the figures Thursday, saying the IRS' new numbers reflect the exodus of residents they have seen on the ground.
"Billions of dollars of this state's wealth has been sent away year after year from our great state, because of California's bad policies on the economy, education and more," he said.
"California used to be a place where everyone wanted to live, but now California has become a place where people want to leave." Local officials of states that see perennial population losses and slow growth point to retirees moving to better climates.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
Friday, June 4, 2021
Golden Exodus: California shrank by 165,000 taxpayers, $8.8 billion in gross income
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment