SOURCE:
INVESTORS BUSINESS DAILYURL:
https://www.investors.com/politics/editorials/state-taxes-american-migrating-to-low-tax-states/
There has been a vast, largely unheralded migration in the U.S. over the past decade. Not because of weather, or amenities. But because of taxes.
Recently, Wallet Hub published a list of states ranked by their tax burden, based on property taxes, income taxes and sales taxes as a share of personal income.
The five states that impose the biggest tax burden on their residents are, in order: New York, Hawaii, Maine, Vermont and Minnesota.
The five states with the lowest tax rates: Alaska, Delaware, Tennessee, Florida and New Hampshire.
Right away there are some obvious similarities between the groups.
None of the 10 highest-tax states has voted for a Republican president in recent elections, for example. On the other hand, only three of the 10 lowest-tax states voted for Hillary Clinton in 2016 — Delaware, Virginia and New Hampshire.
But there's a far more important similarity among high-tax states, and one that should be sounding alarm bells there. They are steadily losing population.
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