We Guess That’s Why They Call Them the Blues

We’ve reported on these pages in recent weeks that at least five big blue states are seriously considering soak-the-rich tax hikes.

The list so far includes California, Colorado, Illinois, Michigan, and New York.

Maybe they are emboldened by socialist Zohran Mamdani’s big win to become New York’s next mayor, or maybe they believe their own propaganda that taxes don’t matter.

It’s about as ill-fated as trying another Bay of Pigs invasion.

We went to our VoteWithYourFeet website and calculated how many people and how much money has been lost in the 10  states over the past decade.

Here are the results: these states lost more than four million people and nearly $1 trillion in income to other lower tax states.

Our bar graph with the title, "Cumulative AGI Gain or Loss of States with Top State and Local Tax Rates."

The blue states seem determined to keep raising tax rates until they’ve successfully chased every multimillionaire and billionaire out of their states.

They’re off to a great start.

SUBSCRIBE TO THE
Unleash Prosperity Hotline

 

1155 15th St NW, Ste 525
Washington, DC 20005