High-tax state exodus accelerated during the pandemic, analysis shows

The exodus from high-tax states escalated in 2021. 

A new report from the Tax Foundation, a nonpartisan group that advocates for lower taxes, found that a growing number of Americans migrated from predominantly blue states like California and New York to red states with lower taxes last year. The findings are based on U.S. Census data as well as new information released this week by U-Haul and United Van Lines.

WHICH STATES HAVE THE HIGHEST, LOWEST TAX BURDEN?

Although the entire U.S. population as a whole grew by just 0.1% between July 2020 and July 2021 – a record low – the Census data underscores major differences in population growth at the state level. For instance, New York, which has one of the highest tax burdens in the nation, saw its population decline by 1.8% between March 2020 and July 2021. But Idaho,

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Biden ignores disappointing December jobs figure, focusing instead on unemployment decline

President Joe Biden speaks from the State Dining Room of the White House in Washington, Friday, Sept. 3, 2021, on the August jobs report. ((AP Photo/Susan Walsh))

President Biden on Friday glossed over weak job growth in December that marked the worst month for hiring in a year, instead focusing on a surprise decline in the nation’s unemployment rate. 

The Labor Department reported Friday morning that private businesses and other employers added just 199,000 new jobs in December, well below the 400,000 gain forecast by Refinitiv economists – a troubling sign that hiring slowed even before the highly contagious omicron variant began rapidly spreading across the nation. 

WHERE ARE SURGING CONSUMER PRICES HITTING AMERICANS THE HARDEST?

But other aspects of the report painted a brighter outlook. The unemployment rate unexpectedly plunged to 3.9% from 4.2%, indicating that more Americans found jobs last month than the report suggested, and

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White House not budging on OSHA vaccine mandate as Postal Service says mail could be affected

White House press secretary Jen Psaki gave no inclination on Thursday that the administration would be willing to budge on the vaccine mandate issued by Occupational Safety and Health Administration (OSHA), despite pleas from the U.S. Postal Service. 

“OSHA issued an emergency temporary standard to protect workers from the spread of coronavirus on the job everywhere at companies, including the Postal Service,” she said, referring to the directive that will impact millions of workers.

USPS REQUESTS TEMPORARY WAIVER FROM BIDEN VACCINE MANDATE, WARNS OF SUPPLY CHAIN DISRUPTION

WASHINGTON, DC – JANUARY 06: White House press secretary Jen Psaki answers questions during the daily White House press briefing January 6, 2022 in Washington, DC.  (Photo by Win McNamee/Getty Images / Getty Images)

“And the agency found that compliance with the rule was feasible for all employers, including the Postal Service,” the press secretary added. 

Psaki’s

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Dow tanks 392 points in stock selloff after Fed signals faster rate hikes

U.S. stocks ended sharply lower on Wednesday after selling picked up following the latest minutes from the Federal Reserve’s December meeting which signaled that policymakers are concerned about inflation broadening, which could accelerate planned rate hikes this year. 

The Dow Jones Industrial Average, which hit a record earlier, closed down 392 points or 1%, while the S&P 500 and Nasdaq Composite dropped 1.9% and 3.3%, respectively. Investors continued to rotate out of technology. 

HIRING PICKS UP WITH 807,000 JOBS CREATED: ADP

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 36407.11 -392.54 -1.07%
SP500 S&P 500 4700.58 -92.96 -1.94%
I:COMP NASDAQ COMPOSITE INDEX 15100.174159 -522.54 -3.34%

The selling puts the Dow farther away from its next 1,000 point milestone – 37,000.

Tech

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Kudlow: Go woke, go broke

The biggest news I’ve seen today which hasn’t gotten nearly the attention it deserves is when Sen. Joe Manchin told a Fox News reporter that he has had no conversations with the Biden administration since his last interview with Fox News. Take a listen:

MANCHIN: There’s been no conversations after I made my statement. I think it’s basically, you know, and I was very clear. I just I feel as strongly today as I did then. I’m really not going to talk about Build Back Better anymore, because I think I’ve been very clear on that. There are no negotiations going on at this time.

So folks, first of all, good for Sen. Manchin for holding his ground. Second, I told you! The guy is not going to cave. I fully expect him in the next couple of days

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