Over the past decade, more than 3.5 million Americans have left high-tax blue states like California, New York, and many others in the Northeast, for low-tax red states like Arizona, Florida, and Texas.
While the migration has been happening for years, conservative economists Arthur Laffer and Stephen Moore are forecasting the next significant movement out of blue states could be right around the corner.
Earlier this week, in an op-ed in the Wall Street Journal titled “So Long, California. Sayonara, New York,” Laffer and Moore spoke about a provision within the brand-new tax bill that could create a mass migration of roughly 800,000 people – fleeing their estates in California and New York for better days in low-tax states over the next three or so years.
Both authors said capping the deduction for state and local taxes (SALT) to $10,000 will accelerate the velocity of the migration of high-income earners from the Northeast and California to regions like “Arizona, Nevada, Tennessee, Texas, and Utah.”- READ MORE
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