"For several years, thousands more high-earning, well-educated workers have left California than have moved in," reports the Los Angeles Times The article clarifies that "it's not just the sheer numbers of people who have left. In prior periods over the last two decades, that balance was about even or slightly in California's favor. "And besides billionaires, "There's been a broader exodus of ordinary Californians in the upper-income spectrum as well. In the tax filing years 2020 and 2021, the average gross income of taxpayers who had moved from California to another state was about $137,000. That was up from $75,000 in 2015 and 2016, according to migration and personal income data from the Internal Revenue Service."

Source: The Guardian January 01, 2024 10:46 UTC