February 4, 2023

Lakeview Gazette

Complete News World

Why America’s Most Affluent People Choose to Move to the Famous Sun Belt

The United States experiences an internal migration phenomenon of its population with high incomes. For more than two years, those earning more than $200,000 a year have moved, and the reasons for that are mainly financial: While receiving states see their coffers grow, it has a profoundly negative impact on the jurisdictions they leave behind.

According to a SmartAsset study, the financial technology firm found less than 50 states and the District of Columbia. This section represents 7% of total tax revenue for the Internal Revenue Service (IRS). in the population.

That way, eight of the ten states with the highest income households would be Located in the Sun Belt or Belt of the Sun, the southern part of the country stretching from the Atlantic to the Pacific coast. Currently, Florida is a leading recipient of wealthy families.

Florida is home to the wealthiest families in Americapixels

While the state reported losing 11,756 high-income taxpayers in 2020, it added 32,019 households earning at least $200,000 in the same year. According to the company, that’s a net of 20,263 high-income filers.

Florida is drawn as a truly attractive destination because it is one of the few No state income tax. Then follows Texas It accounted for one-fourth of the income in terms of wealthier households Sunshine StateThat is, 18,417 taxpayers, which is not a small number.

In 2020, when the Covid-19 pandemic was announced, large sections of the population in the US and around the world had to rewrite work norms and ethics. In that sense, WFH (work from home) or telecommuting is designed as a solution to a problem faced by millions of organizations around the world.

Many New Yorkers moved to Florida to work from home, as quarantined by Covid-19 and work from home became established.
Many New Yorkers moved to Florida to work from home, as quarantined by Covid-19 and work from home became established.19 Dutch

However, that temporary solution became the new way of working in organizations and their employees adopted it with the intention of sustaining it over time. This situation led many to move to states like Florida, Texas or Arizona where taxes were lower, but they kept their jobs far away and, as a result, their higher salaries.

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As some cities experienced exodus, others welcomed new neighbors with open arms, fueling demand for housing. The rental phenomenon in Miami is increasingFor example, had an impact Demand for housing has increased over the past two years.

Now, with the resurgence, companies are trying to reduce their employees’ time remotely and add hours at their desks, but there is resistance to going back to the previous plan. One of the worst cases was when Elon Musk warned employees at the Fremont Tesla factory in California. “They’ll look for another company to work for” if they don’t comply with at least 40 hours a week in the office..