Posted on 11/12/2025 9:54:05 AM PST by Navy Patriot
A new analysis finds that the states of New York and New Jersey have lost billions of dollars from their tax base amid an exodus of residents in recent years.
Unleash Prosperity released a report on Tuesday that found New York lost $517.5 billion in resident incomes from 2013 to 2022, while New Jersey lost $170.1 billion in that period, according to data from the Census Bureau and IRS.
The report covers cumulative gains and losses in each state's resident income, as a mover takes their income to another state for subsequent years – not just the first year after their move.
"New York and New Jersey combined have lost two-thirds of a trillion dollars in net income and purchasing power over the last decade due to moving vans departing these states," Steve Moore, economist and co-founder of Unleash Prosperity, told FOX Business.
"This has been one of the greatest wealth losses for one region in American history. New Jersey and New York are being bled to death by low tax states in the South," Moore added.
New York's losses were the largest of any state, while New Jersey's losses ranked as the fourth-most among the states.
The other states that lost the most in resident incomes over that period were California, which lost $370.1 billion, and Illinois, which lost $315.2 billion.
States that saw resident incomes grow the most in the 2013 to 2022 period were Florida, with a gain of just over $1 trillion, and Texas, which saw a $290 billion uptick.
(Excerpt) Read more at foxbusiness.com ...
Well, yeah but that means more room on the buses. So it’s a win-win
I'm going to guess the numbers are even worse if you go up to present day.
People are moving to the most qualified states. They need to come up with a DEI plan for allocating income to state.
Unfortunately, the ones who don’t want to go south keep moving here to NH ever since covid.
I don’t know about the rest of the state but just think those in NYC who can’t afford HOUSING of any sort, can just move into the empty residences - RENT FREE. I’m sure the mayor will see to that. Just can’t let RE sit empty. Hope those fleeing the city get their properties sold before leaving town!
They won’t be low tax for long.
“”People are moving to the most qualified states.””
Qualified for what?
I’m one of them.
housing costs should also go down due to the attrition...
This is part of the U.S. “economic system” model that’s developed since the 1960s: work as a tax and debt slave in a blue urban dump and then leave when you retire because you couldn’t afford to stay even if you wanted to.
“People are moving to the most qualified states. They need to come up with a DEI plan for allocating income to state.”
They have one. It’s called the “graduated income tax.”
Hundreds of billions? It’s a start.
more room on the buses for the homeless
win win win
“I don’t know about the rest of the state but just think those in NYC who can’t afford HOUSING of any sort, can just move into the empty residences - RENT FREE. I’m sure the mayor will see to that. Just can’t let RE sit empty. Hope those fleeing the city get their properties sold before leaving town!”
Just wait until Musk invents anti-gravity and starts floating houses out of blue states.
They don’t stop being liberals just because they cross the Mason-Dixon Line.
No big deal, just TAX the Poor to make up for it
New York and New Jersey should just put a huge tax on moving vans.
Problem solved.
Why do I always have to think of everything?
🙂
Godspeed.
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