Editor's Note: Below is a brief excerpt and chart from today's Early Look written by U.S. Macro analyst Christian Drake. Click here to learn more about the Early Look.
The amount of income leaving CT and NY is roughly double the amount of people leaving the state. For example, while net migration in 2016 was negative to the tune of -0.80% in CT, the % of AGI (adjusted gross income) leaving the state was -1.8%. This is up from -0.9% in 2015. In other words, the tax base is leaving the state at an accelerating rate. The biggest losers and beneficiaries of AGI flows can be seen in the Chart of the Day below.
