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IPFS News Link • TAXES: State

Doug Casey on the Great Migration of Americans Out of Dysfunctional Cities

• by Doug Casey

For example, it's estimated that 319,020 residents fled New York state between July 2020 and July 2021, which amounted to about 1.6% of its population. It was the largest outflow of any state during this period.

What is going on here?

Doug Casey: It's quite simple and obvious: people are getting away from what they don't like.

In essence, that means taxes, regulations, corruption, street crime, and a "woke" social ambiance. These are all things that relate to government. As late as the 1950s, the local government wasn't a major factor when deciding where to live. Now it is.

Some states now have up to a 13% income tax, and some have 8 to 10% in sales tax. These are huge considerations where they were once trivial. So there's a huge difference between various states regarding the costs imposed upon you by the government.

Generally speaking, the highest tax states are also the most woke and the most regulated.