Massachusetts Bled $14 Billion in Annual Adjusted Gross Income

Date: September 10, 2015

From 1985 to 2013, the state lost 255,890 people.

In the span of about 90 seconds, Massachusetts may have just lost $2,500 of adjusted  gross income, as the state’s money “walks” to states such as more economically viable  Florida or North Carolina.

That’s according to data from HowMoneyWalks.com, a site based on data from the IRS Division of Statistics and U.S. Census Bureau.

From 1992 to 2013, the state has lost $14.42 billion in annual adjusted gross income, according to the site. From 1985 to 2013, the state lost 255,890 people.

The counties bleeding the most money include Hampden, Middlesex, Norfolk, and Suffolk counties. Only Barnstable and Plymouth counties gained wealth. Changes in the state’s estate tax and income tax could help stem the flow.

 

The states benefiting the most from Massachusetts’ economic migration include Florida, where 90,853 taxpayers fled, and New Hampshire, where 48,562 have migrated.

 

See how the Commonwealth stacks up to others here.

 

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