Study Shows Florida Biggest Winner In Wealth Migration, With Billions More Income

Even before the recent tax changes that made Florida a more favorable state to live in, the wealthy were already migrating here, a new study shows.

Bloomberg analyzed data from the IRS and Census Bureau in 2016 and 2017 for the study.

It showed that Florida gained by far the most income via migration of any state in the nation – more than seven times runner up Texas.

Florida gained $17.2 billion in net taxpayer Adjusted Gross Income for the year. By comparison, second place Texas gained just $2.4 billion.

New York was the biggest loser.

Only data reported to the IRS is included, so the gains may have been even bigger if wealthy part-time residents from either the U.S. or overseas was included.

 

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Anonymous

Great! Invest in efficient mass transit before gridlock doubles!!

Anonymous

Lucky for you Miami decided to double deck their highways….

Anonymous

That’s the most moronic idea ever!

Anonymous

I’m not that smart of a person but when an article like this comes out it makes me wonder how we have so many new residents coming to this state that pay taxes (income, sales, etc.) and property taxes continue to increase (especially with all the foreign investors that can’t claim the Homestead exemption), yet the state’s public school system ranked 26th in the nation per a mid-2018 Forbes rating which some might consider favorable. Most recent infrastructure development has come from private development (Virgin Trains USA/Brightline) and private/public partnerships (expansion of toll lanes on I-95). Seems like there is lots of money going in the system with little coming out…seems like there’s some serious fraud going on. But again, I’m not that smart.

Anonymous

Look (insert sarcasm) you’re getting a huge new bridge that looks like a giant spider with underneath park, more third world looking trolleys, and a double decked freeway… what else do you want?

Afi Keita James

let the free market decide, tell the government to kiss my a**

Anonymous

YOU should run for office.

Anonymous

Because public schools are run at at the county level, and Broward, for example, the sixth larges public school system in the country, is run by a clown and a board majority that is simply his rubber stamp. If you follow the Parkland fallout, as hopefully you do, you’d understand why are public schools are failing. This is why our state gov, rightfully so, is allocating money to school choice programs, to hold failing schools accountable. Throwing money at a failing system doesn’t solve anything…

Anonymous

Because the money goes into the pockets of the politicians instead of toward funding the city

Anonymous

And we will continue to have this status quo as long as we keep voting for the same people every election cycle. We are repeatedly sending them the message that they can do whatever they want and come election day, they can count on us to vote the tribal lines, cause “you don’t want that guy from the OTHER party, he’ll bring the end of the world!”.

Anonymous

Don;t ask these kinds of questions

Anonymous

But we have no money to invest in a mass transportation System

Anonymous

You are correct… we don’t have money to invest in mass transit rail here. Nope, only enough money to invest in: double decking highways, large signature bridges for those highways, baseball stadiums, soccer stadiums, filling in boat slips, studies for the beach baylink with no intention of doing anything, etc…

Asking for mass transit is just too much.

Anonymous

All that income and yet no shore power.

Anonymous

… are you shore about that?

Anonymous

#troll

Anonymous

The way to fix the Shore Power problem is environmental legislation from Tallahassee. Port of Miami is never going to invest the infrastructure without a stick that tells them they have to do it.

Really???

We’ll we don’t have state or local taxes so the vast majority of that money is going to the federal government, which I doubt is going to build mass transit here.

The places to catch the money are property taxes, sales tax and an overall higher level of spending. I think the third is being realized as we are still building a ton of new retail.

As far as the property taxes we are taking in more money. but that is going to be a slow build up.

Anonymous

The Federal government builds mass transit? Amtrak is pretty much inherited from private railroads in the 1960s, and when they build new stations, can’t even measure a platform length.

Anonymous

Come live in Annapolis Royal, Nova Scotia. Art, culture, history, all in a beautiful coastal town.

Karl

Obnoxious rich pigs from the north join the obnoxious rich pigs from South America.

Anonymous

This is why our public schools are the envy of the country

Anonymous

That sure makes one feel contented while heading to that Burger King or Retail job. When rich folk do well, we do well…when massa do well, we do well. Florida. Morons.