Young and rich Americans are fleeing New York and California for Florida and Texas. What’s going on?
Posted on AllSides August 29th, 2023
From The Center
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Rich, young people are leaving California and New York for the Sun Belt.
The young and the rich — considered to be filers aged 26 to 35 and earning $200,000 a year and more — have been moving to Florida and Texas in high numbers, according to a new survey released by SmartAsset, which looked at migration data from the Internal Revenue Service for the tax year 2021.
“High earners can make up a disproportionate amount of tax revenue. For people aged 26 to 35, only 2% of tax returns...
