RUSH: The State of New York is hemorrhaging “rich Millennials.” According a new study, more high-earning young people are packing up and getting out of New York than any other state.
One destination is California’s high-paying tech industry. But states with low or no income taxes — like Florida, Texas, Washington state, and Colorado — are also attracting rich Millennials. They figured out that keeping more of what they earn isn’t selfish. It’s smart — and it’s good!
Now “fiscal” observers say the outflow of these wealthy Millennials could have dire consequences for New York, because they pay the lion’s share of taxes. The state depends on their revenue. Now, will the liberals who run New York change their tax-and-spend ways to try to keep the Millennials from leaving? Ha, ha! No way.
I’m a fiscal observer, too, and here’s what I’ve noticed. Just a few years back, the news was about how desperate Millennials were. They were living with mom and dad. They couldn’t find jobs, and were convinced they’d be the first generation not to experience the American dream. Climate change was gonna wipe them out! The Obama years. Now we’re getting stories about how rich they are. The Trump years.
What a difference one election can make. Are they smart enough to realize what happened to them? These rich Millennials, I mean.