Now Leaving California: New Poll Explains Where and Why

Photo byAuthor Edit

Since the pandemic, Americans have been seeking greener pastures in states with lower taxes, crime, and government overreach. A recent poll by SmartAsset found that high-earners ($200,000+) are leading the charge, fleeing states like New York and California.

The Hard Numbers:

• California: Lost 24,670 high-income households (avg. AGI: $1.3m)
• New York: Lost 12,040 high-earning households (avg. AGI: $1.1m)

Why are they Leaving?

• High taxes: California (14.4%) and New York (10.9%) have some of the highest tax brackets
• Punitive legislation: California's proposed exit tax would fine those who leave, even if they move out of the country!
• Skyrocketing living costs: Average home prices in California ($746,667) and New York ($450,000) are out of reach for many

Where are they Going?

• Florida: Gained 29,771 high-earning households
• Texas: Gained 8,260 high-earning households
• North Carolina, South Carolina, and Arizona also saw significant influxes

The Bottom Line: Americans are seeking financial freedom and safety in red states with lower taxes and crime. As Democrat-run states continue to adopt policies that penalize success, this trend is likely to continue.