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Apr 04, 2013
States Without An Income Tax Gain Population And Wealth
IRS data proves that states without an income tax gained tremendous amounts of working wealth between 1995 and 2010. Families and businesses moved from states with a high income tax to states with no income tax, and took their education, capital, and entrepreneurial spirit with them.
Watch Governor Jindal yesterday in Alexandria discuss how eliminating the income tax will help Louisiana better compete with neighboring low tax states.
The nine states with no personal income tax gained $146.2 billion in adjusted gross income (AGI) between 1995 and 2010.
The nine states with the highest personal income tax rates lost $107.4 billion in AGI between 1995 and 2010.
Between 1995 and 2010 Louisiana lost $6.15 billion in AGI to other states.
(Source: Travis Brown. "How Money Walks," Pelopidas LLC, 2013)