One of the most interesting websites I’ve been ogling lately is howmoneywalks dot com
The website pulls publicly-available tax data from the IRS and shows how money flows to and from states. The IRS, if you weren’t already aware, tracks all your income for tax collection purposes.
But, turns out, it also tells an interesting story.
States like New York, California, Illinois, Pennsylvania, Michigan, Maryland, New Jersey, Connecticut, Massachusetts, and Ohio are all net loss states.
Meaning, more income leaves the state than enters it. These states lose massive amounts of money which then flows to other states like Florida, Texas, Colorado, North Carolina and other states.
Weird fact: California is bleeding money to ALL the states surrounding it.
Not surprising if you ask me.
Anyway, do with that information what you will.
Moving right along…
Weird as it is, some people choose to stick it out in high-tax states like New York and California.
Me?
I prefer to live in a lower regulation and low-tax state.
Hopefully, North Carolina stays that way.
But, if’n it doesn’t, I have ways to deal with it.
If you want to learn how to bend the tax code to your will, then you must learn more about how to make it rain with life insurance while others sit back and let it snow tax bills in their state. More details when you join my email list.
Also published on Medium.