Between 2012 and 2023, high-tax states lost substantial taxable income to low-tax counterparts as residents relocated. IRS data analyzed by Unleash Prosperity quantifies this wealth transfer, revealing a decade-long economic migration pattern that reshapes state economies.

The Wall Street Journal editorial focuses on 2022-2023 migration trends, but the longer view exposes more profound shifts. Businesses tracking relocation patterns must account for this sustained movement of both people and capital across state lines.

States receiving this influx gain tax revenue and economic growth, while those losing residents face fiscal challenges. The redistribution of wealth through migration creates winners and losers in the competitive state economy, affecting everything from real estate markets to commercial development.