Monday, July 22, 2013
Capital will always seek and find friendly abodes and capital flight is happening in America and globally. High tax states and nations are witnessing huge drains on capital. Without capital, economies go bust and the people become impoverished while capital friendly places are experiencing economic stability and growth.
The Liberty Crier reports:
Have you noticed more Californians coming to New Mexico?
Judging from a study of wealth migration, it’s not just a feeling you may have — it’s true.
A fascinating map showing the amount of money flowing from state to state called “How Money Walks” shows that $950.09 million in wealth moved from California to New Mexico in the span of 15 years.
And while New Mexico’s economy has been sluggish, according to the map’s figures, more money has come into the state from other states than has come out.
The map’s author, Travis H. Brown, tracked the millions of people in the U.S. who moved from state to state, taking with them more than $2 trillion in adjusted gross income. Brown says Americans are fleeing high-tax states and moving to states that offer lower taxes.
The big losers? New York, California, Illinois, New Jersey and Ohio.
The big gainers? Florida won the most, with $86 billion coming its way. Other gainers were Arizona, Texas, North Carolina and Nevada.
Full article: http://libertycallin … ates-with-high-taxes