From Unleash Prosperity Hotline #1319:
Laugh or Cry: Bloomberg Says Illinois Is Doing Better Than Texas!
Our new Vote With Your Feet (VWYF) website documents where Americans are moving to and from.
Here are the numbers on how many people are on net moving to Texas from Illinois and how much money they are taking with them:
But Bloomberg ran a piece this week called “The Texas Economy Ain’t All That” which argues that Illinois is superior because it has a higher share of people on food stamps. Seriously.
Bloomberg also points out that Illinois has a higher per capita income than Texas.
But incomes are growing much faster in Texas.
At the current pace of moving vans out of Illinois, at some point there will be a handful of millionaires living in big mansions on the shores of Lake Michigan and everyone else will have left.
But the state’s per capita income will surge.
Texas is a youthful state; its median age is younger than the national mean, while Illinois’s is older.
Also, Texas is a state with lots of young immigrants who arrive poor, but quickly rise up the economic ladder.
Of course, the one question Bloomberg can’t answer is this: if Illinois – with its high taxes and progressive policies – is such a wonderful place to live, why is everyone leaving?
