Americans Fleeing High-Tax Blue States for Red as Biden Economy Falters
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Americans continue leaving high-tax blue states like NY and CA for red states with lower costs of living. This migration peaked in 2021 but remains strong.
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While NYC and LA have recovered somewhat, the tax base in these areas is still diminished. Many homeowners prefer the values and policies of red states.
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Experts say the "catastrophic effect" of Biden's economy may still come, especially with student loan payments restarting. Inflation remains high despite administration efforts.
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Americans must build emergency savings and create their own economies rather than relying on politicians to solve problems. Consider investing vs saving and optimizing tax withholdings.
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While cutting expenses helps, generating income is also key. Look beyond just mutual funds to diversify and maximize returns on cash reserves.