A friend alerted me to a very cool web site called How Money Walks
Stated simply, the IRS captures data from income tax returns – tracks year-to-year changes in the filer’s address (intra or inter-state) – aggregates the data by county (and state) – and calculates the net movement on AGI in and out.
Below is the overall, U.S. map – red indicates a net income outflow; green indicates a net income inflow.
click to go to the How Money Walks interactive map
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No surprise, Florida is the big winner with a cumulative annual AGI inflow of $156 billion.
New York is the big loser with a a cumulative annual AGI outflow of $99 billion
Drilling down is where things get interesting.
For example ….
Florida’s increase net inflow has been on a steady rise.
Most of the “new” money is from high tax & spend states: New York, New Jersey and Illinois.
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On the flipside, New has had a steady net income outflow to low-tax Florida and North Carolina … and its sisters in the Tri-State area – New Jersey and Connecticut.
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If you want to get more granular, How Money Moves lets you drill down to the county levels to track movements.
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To have some fun slicing and dicing, go to the How Money Walks website and just point & click.
WARNING: Playing with this data can get addicting.
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Thanks to GFB for feeding the lead.
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