Sending in the Clowns
Even someone with a rudimentary understanding of economics should know that if you tax a business or individual beyond their level of tolerance, they will pack up and leave the state for one with lower or no state income tax. Unfortunately, one can't escape the long arm of federal taxes.
Proof of this axiom comes from the IRS and its publication of the latest (2023) migration numbers. Unleash Prosperity, which touts its mission to "educate policy makers and the public about government policies that have been proven, in practice, to maximize economic growth and equitable prosperity in America and around the world," constructed a graph from the numbers. Their findings should be no surprise except to those Democrat politicians who are in denial and can't help themselves when it comes to squeezing more money out of successful individuals and businesses.
California leads the list for the most people leaving the state, taking with them $11.9 billion in revenue. Next is New York, which lost $9.9 billion, followed by Illinois ($6 billion),........
