by WorldTribune Staff, August 21, 2019
Americans by the thousands are bolting from high tax burdens in socialist sanctums and heading for the conservative heartland, according to American Heritage Foundation chief economist and WorldTribune columnist Stephen Moore.
They are escaping New York, New Jersey, Connecticut and Illinois and moving to Florida, Texas, Tennessee, Utah and North Carolina.
“This is the big demographic story of our country,” Moore said during an Aug. 20 appearance on Fox News’s The Daily Briefing with Dana Perino. “It may be the biggest political economic story that’s happening in America — the transformation where people are moving out of the high-tax states at a rate of about 1,000 people every day to low-tax states.”
Moore continued: “We just did an analysis at ALEC (American Legislative Exchange Council) — I’m on the board there — of four states that I call the ‘four states of the apocalypse.’ You know what they are? New York, New Jersey, Connecticut and my home state of Illinois just getting clobbered because they have the highest taxes. They actually have huge budget problems, though they have high taxes.
“Where are those people leaving to?” he continued. “Where are they going? Certainly Florida. Then Tennessee, Texas, Utah, North Carolina. By the way, There’s something similar about Texas, Tennessee, Florida. No income tax, and boy does that make a difference.”
Moore continued: “Let’s say you’re a millionaire and you move out of New York to Florida or Texas, you can practically buy a house just with the money you save on your income tax.”
There is a concern, however, that the residents and businesses who are fleeing the Democratic-dominated states are bringing their leftist political ideology with them.
“Isn’t it interesting that the states people are leaving from, those are the most, quote, progressive states,” Moore said. “Yet you’ve got all these Democrats saying let’s make America look more like New York and New Jersey. No, we should make America look more like Texas, Tennessee and Florida.”
In an Aug. 21 report, BizPac Review cited the example of AllianceBernstein (AB), a global asset management firm that announced in the spring that it would be relocating from New York to Tennessee to escape the left-wing state’s left-wing policies.
Before the official move, however, the firm issued a statement decrying the Tennessee’s conservative government for being supportive of a religious liberty bill, the report said.
“AB chose to move to Tennessee because we believe it is a welcoming state that is focused on growing jobs, incomes and the tax base, which will improve lives for all Tennesseans,” the firm’s COO, Jim Gingrich, said in a statement at the time.
But, he continued, “[t]he bills being debated in the current session of the legislature send a clear message to certain constituencies that they are not welcome. Other states have tried to pass similar bills and this has proven to be anti-growth, anti-job and against the interests of the citizens of those states.”
Family Research Council president Tony Perkins noted in a rebuttal: “[T]he last time financial experts checked, the most socially conservative states also happened to be the most prosperous. For years, places like North Carolina (No. 1), Texas (No. 3), and Georgia (No. 6) have topped Forbes’s Best States for Business list — despite high-profile campaigns for privacy, religious liberty, and life.”
Perkins continued: “What these liberal CEOs don’t understand is that these favorable business climates only come from conservative legislators who understand that real freedom leads to economic growth. That’s why these red states are so enticing to companies, because their social values haven’t just built a foundation for workforce and family success — but thriving corporations, too.”
It’s not just the American people who are benefiting from low taxes.
Florida, despite boasting some of the lowest tax rates in the country, is “raking in billions,” as reported by Fox Business Network.
“According to a new study from LendingTree, which analyzed IRS data from 2016, Florida is the number one largest beneficiary from relocations out of all 50 states — by a landslide,” the Fox Business report said.
“The Sunshine State drew in a net influx of about $17.7 billion in adjusted gross income (AGI) – most of which (72 percent) came from those aged 55 and older. It is consistently one of the most popular destinations for retirees due to affordability and low taxes. Florida’s $17.7 billion in net AGI dwarves the remaining 19 states that saw a positive net influx of income – which combined for a total of $19.4 billion.”
This appears to disprove the Democrat Party narrative that tax cuts lead to reduced revenue and thus higher deficits and debts.