California loses one taxpayer about every minute under Gov. Gavin Newsom’s watch, according to new data.
An analysis of data from the IRS conducted by the National Taxpayers Union Foundation found that Florida, Texas and North Carolina gain new taxpayers faster than any other state in the country.
The damning report comes just after data paints a bleak picture of the Golden State exodus, revealing a massive transfer of wealth from a high-tax blue state to low-tax red havens.
California is also one of the worst when it comes to job layoffs. Getty Images
It seems Americans prefer the Sunshine State’s zero income tax over the “sunshine tax” that comes with California living.
Crime rates, the exorbitant cost of living, property taxes, and a progressive state income tax system that ranges from 1% to 13.3% based on your tax bracket, all makes for a crushing burden that is effecting middle and upper classes alike.
There’s also a recent report that says 158,700 workers in California have been hit by California-centric layoff plans. The number ranks California #2 in employment cuts nationwide.
Florida is getting an additional $4 billion a year that will be allocated to its budget due to the influx, according to estimates from Andrew Wilford, director of the Interstate Commerce Initiative at the National Taxpayers Union Foundation.
California is hemorrhaging residents at a jaw-dropping rate, and the numbers are a brutal indictment of the policies coming out of Sacramento.
According to new data, California is losing a taxpayer every single minute. pressmaster – stock.adobe.com
Critics have long warned that the state’s tax strategy would eventually backfire, and now the math is undeniable.
When you’re losing a taxpayer every 60 seconds, you’re not just losing people; you’re losing money needed to fund public programs that support education and health and human services like Medi-Cal.
The message Americans are sending seems to be clear: they want opportunity, safety, and the ability to keep the money they work hard for. If Newsom doesn’t reverse course, the only thing that will grow in California is the line to leave.