Budget & Tax

How money walks

January 10, 2019

Jonathan Small

When people move between states, their income moves, too. This affects state economies and tax revenue. And the effects compound over time. Some states win big, others are big losers.

Read the rest over on The Journal Record.

Note: This commentary is based on an ongoing series about how states attract income—actually, people who earn income—from other states. Data are from How Money Walks, a project that tracks income migration at the state and county levels. Using IRS data, it shows how states have gained or lost wealth between 1992 and 2016. These data provide evidence about the effects of tax policy on where people choose to live. States in our series include Alaska, Nevada, Washington, Texas, and Florida.