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Over the past decade, about 3.5 million Americans have relocated from high-tax blue states like California and those in the Northeast, to low-tax red states like Texas and Arizona — and the change is likely to accelerate.
So say Arthur Laffer and Stephen Moore, co-authors of a report from the American Legislative Exchange Council, in a Wall Street Journal essay.
The article goes on to state the following:
They say that the Republican Party tax bill’s cap on the deduction for state and local taxes (SALT) could ramp up the pace by which Americans relocate in their own economic interest.
Laffer and Moore estimate that both California and New York will lose on net about 800,000 over the next three years, roughly double from the previous three years, while Connecticut, New Jersey and Minnesota combined with lose around 500,000 people in the same period.
For years, high-tax blue states exported 1/3 + of their tax burden to elsewhere. Thankfully, this #SALT subsidy is now capped. It’s time for these states to cut taxes & take tax competitiveness seriously! @ALEC_states @NACoTweets @NCSLorg @Taxeconomist https://t.co/CHmENfOgje
— Stephen Moore (@StephenMoore) April 26, 2018
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