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America's top destination for new taxpayers is quietly getting poorer, IRS data reveals
Wealthy Americans are leaving high-tax states like New York City, resulting in a $922 million loss in adjusted gross income for Manhattan between 2022 and 2023. IRS data shows significant outflows from New York and California counties, with many taxpayers relocating to lower-tax states such as Florida and Texas, impacting state finances and political dynamics ahead of the 2026 midterms.
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