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Follow the money: Mapping millionaire migration across America

Big Think·Frank Jacobs·3 days ago
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Since 2018, around 102,600 millionaires have left California. In the same period, 61,400 Americans with at least seven figures to their name have packed up and left New York state. Where have they gone? According to the Wealth Exodus dashboard , Florida has added 133,000 millionaires over those years, and Texas has added 61,400. Using data compiled from the IRS, the Federal Reserve, and state tax records, this dashboard visualizes the migration of American millionaires between states. Politically explosive numbers The numbers are politically explosive because they are neither random nor subtle. The map shows the moneyed classes moving from predominantly Democratic-run states to Republican ones. Put another way: from states with typically higher taxes and more regulations to states with generally lower taxes and fewer regulations. It’s not a trivial trickle. From 2020 to 2024, Americans collectively worth around $500 billion changed their state of residence.…

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