How Money Walks: some good news about New Mexico

Check out this fascinating website called How Money Walks. It illustrates how wealth migrates around the nation. Believe it or not, according to data from the IRS that were analyzed and uploaded to this website, New Mexico has actually seen a relative influx of wealth from other states. According to the data, New Mexico:

Gained Wealth From:
$950.09 million California
$267.88 million New York
$141.86 million Illinois
$126.68 million Michigan
$115.30 million New Jersey

Lost Wealth To:
$534.12 million Texas
$459.64 million Arizona
$357.79 million Colorado
$98.12 million Oregon
$87.50 million Nevada

So, what does this all mean? For starters, all of the states that lost wealth to New Mexico are “forced-unionism” states (not Right to Work) while 3 of the 5 states to which New Mexico lost wealth are Right to Work while two of them do not tax personal incomes (all of the states from which NM gained wealth had charge personal income tax).

Regardless, the site is robust with a lot of great information.

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