Do high state and local taxes chase people away?
Is the pope Catholic?
As if you needed more proof, but here’s a report which discovered the obvious.
Over the past decade, about 3.5 million Americans have relocated from high-tax blue states like California and those in the Northeast, to low-tax red states like Texas and Arizona — and the change is likely to accelerate.
So say Arthur Laffer and Stephen Moore, co-authors of a report from the American Legislative Exchange Council, in a Wall Street Journal essay.
Laffer and Moore estimate that both California and New York will lose on net about 800,000 over the next three years, roughly double from the previous three years, while Connecticut, New Jersey and Minnesota combined with lose around 500,000 people in the same period.
Get out while the getting is good!
Texas or bust!