By Amy Legate-Wolfe
Young professionals who make more than $100,000 have started to flee California and New York, and the prices that go with them.
Instead, they’re going home, according to a study done by SmartAsset. In fact, analysis by the Census Bureau and Harvard University earlier this year found that 80% of young adults now live less than 100 miles from where they grew up.
Looking at adults under 35 who earn $100,000-plus per year, SmartAsset examined the inflow and outflow of wealthy young professionals from state to state between 2019 and 2020: Where did they leave? And where did they go?
It’s time to cue up the map app and take a closer look....
High sales and use taxes put the burden in supporting any government in Texas on visitors and tourists more so than residents. So, if Americans live in New Jersey or New York they pay their taxes, but, on vacation to Texas they are paying the Texas government, too.
...The Lone Star State benefits from the lack of income tax. Instead, Texas relies on high sales and use taxes, and property taxes, to pick up the revenue slack. In fiscal 2019, 26.6% of the state’s net revenue came from the $34 billion collected from sales taxes alone....
...The Lone Star State benefits from the lack of income tax. Instead, Texas relies on high sales and use taxes, and property taxes, to pick up the revenue slack. In fiscal 2019, 26.6% of the state’s net revenue came from the $34 billion collected from sales taxes alone....
True, counties in Florida can levy a discretionary sales surtax of between 0.5% and 1.5%. However, for many years now, Florida has maintained one of the lowest tax burdens in the country....
Unfortunately, these younger adults aren't worried about quality of life. There is a trend in the Red States of higher murder rates (click here). The gun culture in these states are out of control and will effect quality of life.
The rate of murders in the US has gone up at an alarming rate. But, despite a media narrative to the contrary, this is a problem that aicts Republican-run cities and states as much or more than the Democratic bastions.
In 2020, per capita murder rates were 40% higher in states won by Donald Trump than those won by Joe Biden.
In 2020, per capita murder rates were 40% higher in states won by Donald Trump than those won by Joe Biden.
8 of the 10 states with the highest murder rates in 2020 voted for the Republican presidential nominee in every election this century.
