WINNERS AND LOSERS: IRS Data Reveals Trouble for Blue States

By
E.J. Smith - Your Survival Guy
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There’s big trouble brewing for high tax states. First, the 2017 Tax Reform signed by President Trump revealed the real impact those states’ high tax rates have on wealthy earners by eliminating most of the deductions for state and local income taxes. Then, the summer of rioting and looting spurred on by Democrats’ Defund the Police movement, and crippling COVID-19 restrictions encouraged many people to leave the big blue blob cities. Now, the IRS data is in and the biggest winners and losers of 2020 have been revealed.

The biggest loser states by amount of adjusted gross income that left the state in 2020 are (as reported by The Wall Street Journal’s editorial board):

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  1. New York (-$19.5 billion)
  2. California (-$17.8 billion)
  3. Illinois (-$8.5 billion)
  4. Massachusetts (-$2.6 billion)
  5. New Jersey (-$2.3 billion)
  6. Maryland (-$1.9 billion)
  7. Ohio (-$1.4 billion)
  8. Minnesota (-$1.2 billion)
  9. Pennsylvania (-$1.2 billion)
  10. Virginia (-$1.1 billion)

The ten states that gained the most adjusted gross income are:

  1. Florida ($23.7 billion)
  2. Texas ($6.3 billion)
  3. Arizona ($4.8 billion)
  4. North Carolina ($3.8 billion)
  5. South Carolina ($3.6 billion)
  6. Tennessee ($2.6 billion)
  7. Nevada ($2.6 billion)
  8. Colorado ($2.3 billion)
  9. Idaho ($2.1 billion)
  10. Utah ($1.3 billion)

Match up these states on my map of 2022 Super States, and you’ll see that most of the biggest losers list is made up of escape states, and most of the biggest winners list is made up of my Super States. Americans wanted to move to states where their money and time were respected. And where crime was fought, not aided, by the government. And where they could fight crime themselves with constitutional carry. And they wanted states where teachers’ unions weren’t gutting their children’s educations.

Action Line: Make the decision that puts you and your family in the best place they can be. If you need encouragement in your move to a Super State, click here to sign up for my free monthly Survive & Thrive letter, where I’ll push you to make the best choices you can for your family.

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