William Katz:  Urgent Agenda

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SHORT TAKES ON THE DRIFTING WRECKAGE – OVERNIGHT:

NEW YORK IS SINKING, AND NO ONE WANTS TO THROW IT A LIFELINEFROM JUST THE NEWS:   The Internal Revenue Service this week released more troubling data for New York, with the federal agency showing more high-earning taxpayers leaving the state.  Tracking returns filed in 2019 and 2020 showed that 479,826 people left New York for another state or country in those years. Over the same timeframe, just 231,439 people moved to the state. That means the state suffered a net loss of 248,387 residents.  And, of course, those people took their money with them. The IRS figures show the moves generated an economic exodus of more than $19.5 billion.  New Jersey and Florida were the biggest beneficiaries. More than 84,500 people moved from New York to New Jersey and took $5.3 billion. By contrast, only 37,127 New Jersey residents moved to New York and brought $2.2 billion in income.  The numbers were even starker between New York and Florida. Over the two years, 71,845 New Yorkers flocked to the Sunshine States and took $6.4 billion. Meanwhile, 26,902 former Floridians moved up north. Those individuals had a combined income of $1.2 billion.  Wirepoints, in its analysis, noted New York suffered the worst net loss of income of any state, with the $19.5 billion representing a 2.5 percent decline in adjusted gross income. The independent nonprofit research firm said New York lost $1 trillion in income through population losses since the beginning of the century.  A state run by leftist Democrats, and dominated by America's most influential city, New York City, which is falling apart.  New Yorkers try to be optimistic, then go to the polls and vote for the architects of the disaster.

June 2, 2022