Saturday, January 07, 2006

Intelligent people leaving Wisconsin.

Nation: The good news is they are getting less educated, less wealthy people moving in that will be happy with the socialist views of the government taking care of them...at least in Madison.

MADISON, Wis. - Wisconsin lost $4.7 billion in household net worth over a five-year period as more highly paid and well-educated residents moved out of the state than came in, according to a study that also found high numbers of 20-somethings and seniors leaving. The nonpartisan Wisconsin Taxpayers Alliance did not survey those who left as part of its analysis of census data between 1995 and 2000. But its president, Todd Berry, said the study suggests several trends at play. They include highly educated college graduates leaving Wisconsin faster than they're coming in because of greater economic opportunities elsewhere, and older residents leaving for better weather and lower taxes. Overall, the state saw an increase of 4,400 households over the five-year period. But those leaving were worth more and had higher incomes, resulting in the lost household worth and a loss of $454.8 million in income over the five years. Berry said that translates into less tax revenue, fewer assets held by Wisconsin banks and reduced support for local charities. "The good news in some ways is that we seem to be attractive to young families with kids," Berry said. "The problem is the people coming in tend to have less capital at their disposal. They're less educated. They're more likely to work in 20th century as opposed to 21st century jobs."
Where are they going too?
Berry said the top nine states gaining the most high-income Wisconsinites had income and property taxes 25 percent to 73 percent lower than Wisconsin's. The top destinations for seniors were Florida and Arizona; 50 percent more of those retirees went to Florida, which has no state income tax. He said that supports his belief that weather and taxes are both factors for those retirees leaving.

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