Florida gets $4M of wealth migration AN HOUR as high-tax states spiral
Florida is attracting more than $4 million in wealth migration every hour as high-tax states like New York, California and Illinois hemorrhage income at over $1 million hourly, Florida Chamber of Commerce CEO Mark Wilson warned, describing their escalating taxes as a “death spiral” fueling the Sunshine State’s rise to the world’s 15th-largest economy.
Wealth inflow relentless: More than $4 million in wealth crosses into Florida every hour, day and night, sustaining steady migration despite a drop in daily new residents from 1,000 to 500-600.
High-tax exodus accelerates: States such as New York, Illinois, California and New Jersey lose over $1 million in income per hour due to rising income and property taxes that stifle innovation and opportunity.
Florida’s tax paradox thrives: Tax revenues rise even as rates fall, driven by business relocations, investments and private-sector growth that shrinks the public sector while boosting jobs and economic diversification.
Global ambition surges: Having surpassed Spain to rank as the 15th-largest economy worldwide, Florida targets a top-10 global spot by 2030 through population growth, poverty reduction and a pro-business climate attracting billionaires and enterprises.