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COVID Lockdown States Lost Tens of Billions of Dollars to States That Stayed Open

Our friend Dan Clifton at Strategas has crunched the brand new IRS income migration data for 2020 and 2021.

Florida gained a staggering $63 billion in income from migration in two years, a more than 5 percent boost in state personal income.  Texas was second biggest state income gainer at $17 billion.

The big losers?  California, New York, and Illinois of course.  Manhattan alone lost $31 billion in income.

Chasing away high-income residents has also chased away state tax revenue:

People are voting with their feet — and taking their money with them.

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