Tipsheet

Here's How Much Wealth Has Fled Blue States, Thanks to Democrat Policies

Amy Curtis
Amy Curtis  |  May 08, 2026 10:00 AM

Some day, Democrats will learn that the millionaires and billionaires they demonize have the power and money to leave their blue states for friendlier climes. When those rich people leave, they take their wealth — including tax revenue, business taxes, and jobs — with them. 

In New York, billionaires like Marc Rowan, CEO of Apollo, and Ken Griffin are looking to move their wealth and businesses elsewhere. Mayor Zohran Mamdani seems wholly untroubled by this, too. But eventually, blue states will face economic collapse. They can only tax the middle class so much before they leave, or stop paying taxes, too.

And in the last decade, it turns out that blue states have lost $2 trillion as wealthy people, businesses, and others move to tax-friendly red states.

Guess which state leads that? New York.

Here's more:

Nearly $2 trillion in economic growth has left blue states and headed for red states in the last decade, according to economic data from the Committee to Unleash Prosperity, a conservative economic group.

The group used IRS data from the years 2012 to 2023 to calculate the movement in cumulative income between states, which were classified as red “Trump states” or blue “Harris states” based on which way they voted in the 2024 Presidential Election.

That $2 trillion transfer is larger than the GDP of some countries.

New York had the biggest fall in cumulative adjusted gross income (AGI) — losing $660 billion between 2012 and 2023.

California came next with $503 billion in the same time period.

In contrast, Florida gained $1.3 trillion, and Texas gained $371 billion between 2012 and 2023.

It comes as billionaire bigwigs are beginning their Big Apple exodus as a result of Mayor Mamdani’s wealth-bashing agenda.

Hedge fund titan Ken Griffin and Marc Rowan both announced recently that they will move jobs out of New York in response to Mamdani’s calls to “tax the rich.”

And Democrats will just keep raising taxes.

The house of cards needs to fall.

Absolutely rotten to the core.

And yet few are reporting it.

"The problem with socialism is that you eventually run out of other people's money."

And while Democrats respond by raising taxes on those who remain, they will also get increasingly desperate and push for exit taxes, retroactive taxes, and other insane policies meant to steal wealth from the rich.