Billionaires who made it in New York know that if they made it her they can make it anywhere are leaving in droves.
Thanks to ultra-woke, progressive Democrats pushing an anti-business, pro-crime agenda the Empire State has seen the largest population decline for the second year in a row.
According to the latest Internal Revenue Service data the number of New York state residents who reported an adjusted gross income of more than $1 million fell to 54,370 in 2020 from 55,100 in 2019 — a 1.3% decline.
Overall, an estimated 300,000 New Yorkers reportedly left the city in 2020 — taking roughly $21 billion in income out of the state.
The grim number now brings New York’s population loss, for the two-year period ending in last summer, to a stunning 431,000, or around 2% of the state total. And it’s clear this is being driven by people leaving since New York’s birth is well above its death rate.
Florida has been one of the biggest beneficiaries of the escape from New York saga — along with other Republican-run Sun Belt locales like Texas, Tennessee, Georgia and the Carolinas. The Sunshine State is positioned to supplant New York as home to the second-highest number of millionaires in the country behind first-place California.
Between 2019 and 2020, New York state lost 9.5% of its income tax filers making above $750,000 and 1.3% of its millionaires — following then-Gov. Andrew Cuomo’s moronic surtax on high earners, which was meant to pay for our COVID overreaction and made New York the highest-taxed state in the nation.
The numbers re-enforce the idea of get woke, go broke and New York certainly is on its way to that as tax revenues will not be able to fund Albany’s progressive policies as it faces a projected $6.2 billion deficit for next year’s budget.