New York Takes Huge Financial Loss as People Flee the State

New York Takes Huge Financial Loss as People Flee the State

(UnitedVoice.com) – Democrats love to tax, and recently, they have started implementing draconian COVID-19 restrictions on top of them. California and New York are examples of that. Now, residents in both states are leaving for cheaper pastures. In NY, that’s resulted in a huge financial loss.

According to a Unacast survey released on December 15, 3.57 million people left NYC in 2020, but 3.5 million people with lower wages moved in. That led to an estimated $34 billion in lost income for the state.

Unacast CEO Thomas Walle explained the loss of income could have long-term effects on the city. The Big Apple is struggling to recover from the COVID-19 pandemic as it also grapples with how to deal with Democratic Governor Andrew Cuomo’s incessant shutdowns. The loss of money might continue to hurt the retail and real estate industries’ recoveries, continuing to push workers into poverty. Which is exactly what Republicans have been warning about.

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