America's richest states are bleeding cash as New York and California see tax revenues plunge by 20% after exodus - while Texas and Florida are booming amid population influx
Daily Mail
June 30, 2023
NEW Some of the richest US states are seeing sharp declines in their tax revenues, while others are making gains, as demographic shifts and differences in tax policies fuel diverging trends across the country.
New York and California, which both rely heavily on taxing the incomes of their wealthiest residents, saw tax receipts plunge in the 2023 fiscal year through April, according to Urban Institute data obtained by DailyMail.com.
Meanwhile, Texas and Florida, which rely primarily on sales taxes, saw healthy growth in tax receipts, after both states made population gains and consumer spending remained strong.
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