Trump's backyard is becoming America's biggest magnet for taxpayer wealth
One red county is emerging as America's biggest winner in the race for people and prosperity, attracting more wealth from migrating taxpayers than any other county in the nation.The latest IRS migration data show President Donald Trump's hometown of Palm Beach County, Florida, attracted more than $3 billion in taxable income from households moving in from other states, the largest gain of any county in the nation.Already one of the nation's wealthiest areas, Palm Beach is also home to Trump's Mar-a-Lago estate, which has been dubbed the Southern White House. The sunny Florida enclave has become an increasingly high-profile destination for political donors, business leaders and affluent residents, alongside Florida's broader influx of high-income households.THE RED STATES RACING AHEAD IN AMERICA’S POWERFUL WEALTH BOOM — AND THE STATES FALLING BEHINDThe latest IRS figures suggest that trend continues to favor lower-tax, fast-growing Sun Belt states over many of the nation's largest coastal counties.The findings offer one of the clearest snapshots yet of where Americans, and their money, are moving.
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One red county is emerging as America's biggest winner in the race for people and prosperity, attracting more wealth from migrating taxpayers than any other county in the nation.The latest IRS migration data show President Donald Trump's hometown of Palm Beach County, Florida, attracted more than $3 billion in taxable income from households moving in from other states, the largest gain of any county in the nation.Already one of the nation's wealthiest areas, Palm Beach is also home to Trump's Mar-a-Lago estate, which has been dubbed the Southern White House. The sunny Florida enclave has become an increasingly high-profile destination for political donors, business leaders and affluent residents, alongside Florida's broader influx of high-income households.THE RED STATES RACING AHEAD IN AMERICA’S POWERFUL WEALTH BOOM — AND THE STATES FALLING BEHINDThe latest IRS figures suggest that trend continues to favor lower-tax, fast-growing Sun Belt states over many of the nation's largest coastal counties.The findings offer one of the clearest snapshots yet of where Americans, and their money, are moving. That's important because the migration of higher-income households can have an outsized economic impact. They contribute more than just new neighbors, bringing paychecks, investments, businesses and spending power that can strengthen local economies while leaving behind smaller tax bases in the places they leave.The migration wasn't limited to Palm Beach.
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- What's the story?
- One red county is emerging as America's biggest winner in the race for people and prosperity, attracting more wealth from migrating taxpayers than any other county in the nation.The latest IRS migration data show President Donald Trump's hometown of Palm Beach County, Florida, attracted more than $3 billion in taxable income from households moving in from other states, the largest gain of any county in the nation.Already one of the nation's wealthiest areas, Palm Beach is also home to Trump's Mar-a-Lago estate, which has been dubbed the Southern White House. The sunny Florida enclave has become an increasingly high-profile destination for political donors, business leaders and affluent residents, alongside Florida's broader influx of high-income households.THE RED STATES RACING AHEAD IN AMERICA’S POWERFUL WEALTH BOOM — AND THE STATES FALLING BEHINDThe latest IRS figures suggest that trend continues to favor lower-tax, fast-growing Sun Belt states over many of the nation's largest coastal counties.The findings offer one of the clearest snapshots yet of where Americans, and their money, are moving.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 8m ago.
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Trump's backyard is becoming America's biggest magnet for taxpayer wealth
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