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Author Topic: How Money Walks  (Read 1037 times)

Ben

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How Money Walks
« on: April 11, 2014, 09:43:36 AM »
I saw this website on Stossel last night, and thought it was really interesting. It illustrates how inter (and intra) state migration moves money, and shows how low and no income tax states attract money. The guy drills down to the county level. Putting it here for now, though I suppose depending on how the conversation goes, it may end up in politics. :)

http://www.howmoneywalks.com/irs-tax-migration/
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Brad Johnson

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Re: How Money Walks
« Reply #1 on: April 11, 2014, 09:50:20 AM »
The map makes me chuckle.

I've been seeing TV commercials for the state of New York where they're trying to entice businesses with a no-tax startup provisions.  Judging by the map they are trying to shut the barn door after the horses are gone.  I also guess they forget that businesses large enough to relocated to NY will also be smart enough to investigate what the taxes are after the no-tax honeymoon is over.

Brad
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MillCreek

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Re: How Money Walks
« Reply #2 on: April 11, 2014, 10:18:10 AM »
Huh, parts of Washington do well, such as my county of residence.  I was interested to see that state-wide we have a lot of migrants to Arizona, so I am thinking the retired sunbirds must account for that.
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Ben

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Re: How Money Walks
« Reply #3 on: April 11, 2014, 10:28:55 AM »
Quote from: MillCreek on April 11, 2014, 10:18:10 AM
Huh, parts of Washington do well, such as my county of residence.  I was interested to see that state-wide we have a lot of migrants to Arizona, so I am thinking the retired sunbirds must account for that.

Yeah, from my cursory exploration, I've seen a few sub-factors pop up. In CA for instance, I saw some migration into a highly regulated, highly taxed county, but knowing the background, a large part of the migration can almost certainly be attributed to rich people moving there for the culture, possibly from even more highly taxed and crowded areas, and likely not caring much about the cost of living. Lots of foreign investors as well, but I don't know if the map data accounts for any foreign inputs.
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Scout26

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Re: How Money Walks
« Reply #4 on: April 11, 2014, 01:04:20 PM »
Given the fact that it's based on tax data (AGI), if the foreign inputs are paying US taxes (very likely), then yes.  They are accounted for.

It's just fascinating to see the flight of income (not wealth) from the Democrat controlled cities to the no/low tax states.


I also used the calculator.  Were I to move to Indiana, I would save about $1000 per year.  Move to Texas and I would save $3200.


 :facepalm: :facepalm: :facepalm:
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brimic

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Re: How Money Walks
« Reply #5 on: April 11, 2014, 03:40:15 PM »
Quote from: Brad Johnson on April 11, 2014, 09:50:20 AM
The map makes me chuckle.



It made me lol heartily. The two most conservative counties in my state (Washington, Waukesha) sucking all of the wealth ut of the liberal cesspool of Milwaukee county. :rofl: >:D >:D
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Re: How Money Walks
« Reply #6 on: April 11, 2014, 04:06:32 PM »

My state (PA) looks quite bad. Until you click on it and see the state map. BWAHAHAHAHA  All of the money moved out of Philly to Chester County. Which makes sense, I made stupid loot when I worked in Glenn Mills at Deloitte. Pittsburgh (aka The Pit) has the same issue. Everyone with money is fleeing the city and living in the suburbs.

Looks like we'd be hosed, except for refugees from New York ($3.12 billion), Maryland ($2.89 billion), and New Jersey ($1.09 billion). And promptly shipped it all to Florida, but likely that's retirees who hate PA winters. Can't exactly knock that decision.
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AJ Dual

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Re: How Money Walks
« Reply #7 on: April 11, 2014, 04:11:19 PM »
Hoping another few terms of Scott Walker and a GOP majority can turn WI light green within a few more years.
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Angel Eyes

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Re: How Money Walks
« Reply #8 on: April 11, 2014, 04:12:19 PM »
Interview with the author, Travis Brown:

https://www.youtube.com/watch?v=sT_vGkrBriU
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Scout26

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Re: How Money Walks
« Reply #9 on: April 11, 2014, 04:29:53 PM »
Heh,

I would save $402 per year if I moved to South Cackalacky and only $78 if I moved to Georgia.


Looks like I won't become a "Damn Yankee".   :P :P :P 
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TechMan

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Re: How Money Walks
« Reply #10 on: April 11, 2014, 04:33:50 PM »
I would save $4000 a year if I moved to TN, TX or FL....hmmmmmm
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MillCreek

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Re: How Money Walks
« Reply #11 on: April 11, 2014, 04:49:06 PM »
I am saving money right where I sit, so I have that going for me.
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Quote from: Angel Eyes on August 09, 2018, 01:56:15 AM
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lee n. field

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Re: How Money Walks
« Reply #12 on: April 11, 2014, 06:33:09 PM »
Quote from: RevDisk on April 11, 2014, 04:06:32 PM
My state (PA) looks quite bad. Until you click on it and see the state map. BWAHAHAHAHA  All of the money moved out of Philly to Chester County. ... Everyone with money is fleeing the city and living in the suburbs.



Ditto Illinois.   Pretty much neutral, except for major bleed from Chicago into the collar counties.
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Tallpine

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Re: How Money Walks
« Reply #13 on: April 11, 2014, 09:46:34 PM »
Our county is so poor it couldn't go anywhere but up  =D

The coal mine has brought some new money in.
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