IOWANS FOR TAX RELIEF: Government’s Moneyball is a Taxing Game

***The Iowa Standard is an independent media voice. We rely on the financial support of our readers to exist. Please consider a one-time sign of support or becoming a monthly supporter at $5, $10/month - whatever you think we're worth! If you’ve ever used the phrase “Fake News” — now YOU can actually DO something about it! You can also support us on PayPal at [email protected] or Venmo at Iowa-Standard-2018 or through the mail at: PO Box 112 Sioux Center, IA 51250

Did you expect the usual stories that come out of spring training would include talk about taxes?  We didn’t either. But a recent article from the sports page in Minneapolis illustrates how high taxes impact where people live – even baseball players.

Minnesota Twins prospect Royce Lewis explained his decision to move from California to Texas. One of the reasons was because Texas doesn’t have a state income tax and Lewis had a $6.725 million signing bonus.

It’s not just athletes who consider their tax bill when relocating. For over a decade, Rich States, Poor States has shown states with lower taxes, specifically low-income taxes, have had more people move into their state than states with high income taxes.

U.S. Census Bureau data shows in 2018, Iowa:

Gained residents from states with higher taxes:

  • Illinois: net gain of 7,772
  • California: net gain of 1,974
  • Minnesota: net gain of 1,660

Lost citizens to states with no income tax:

  • Florida: net loss of 1,607
  • South Dakota: net loss of 2,434
  • Texas: net loss of 2,979

People move for many reasons, but the amount of money state government takes from taxpayers plays a part.

Iowa is in competition with the rest of the country, especially our Midwestern neighbors, to attract and retain people and businesses. Taxes matter, and the best way to improve Iowa’s tax code is to cut income tax rates.

LEAVE A REPLY

Please enter your comment!
Please enter your name here