From Kansas Watchdog.
Texas, Florida are top destinations for Kansas cash
By Travis Perry
WALKING AWAY FROM TAX HIKES: An interactive map of state migration patterns shows people take their money from high-tax states to low-tax states.
OSAWATOMIE — Kansas’ two self-appointed rivals – Texas and Florida – are magnets for cash flowing out of the Sunflower State.
In all, the two states siphoned-off a combined $1.6 billion from Kansas between 1995 and 2010, according to IRS and U.S. Census Bureau data examined by Travis Brown and showcased online at HowMoneyWalks.com. The data, which you can hear Brown discuss in this CNBC interview, shows a pattern of individuals packing up and moving from high-tax to low-tax states.
Overall Kansas lost $3.15 billion in wealth during the 15-year time span. It’s just a small piece of the $2 trillion in gross adjusted income that shifted between states during the period Brown examined.
The blue-bastions of New York, California, Illinois, New Jersey and Ohio were among the biggest losers during the decade and a half study, while the biggest winners included Florida – coming in first by snagging more than $86 billion from other states – followed by Arizona, Texas, North Carolina and Nevada.
Here’s where Kansas pulled in wealth:
- $198.83 million from California
- $103.80 million from Nebraska
- $102.94 million from Iowa
- $81.73 million from New York
- $58.29 million from Illinois
And here’s where dollars flowed after individuals left the Sunflower State:
- $898.22 million to Texas
- $722.75 million to Florida
- $395.13 million to Colorado
- $279.59 million to Arizona
- $237.14 million to Nevada
“By no means are we suggesting that taxes are the only factor,” Brown said during a CNBC interview earlier this year. “But it would also be equally wrong to suggest that they’re not a big factor.”
It’s worth noting the data doesn’t take into account money created in a given state that stays in that state. It should also be interesting to see how Gov. Sam Brownback’s recent changes to the state tax code affect these figures in the coming years, and whether Kansas will see a reverse in this trend.
Contact Travis Perry at [email protected], or follow him on Twitter at@muckraker62. Like Watchdog.org? Click HERE to get breaking news alerts in YOUR state!