Thousands have fled California since the outbreak began and the severe restrictions that followed. Now it turns out that the population drop is the biggest in the country, with most of the dropouts making the most money.
From 2019 to 2020, the number of people listed on their tax returns decreased by 39,202 and their average income was $138,000 per year.
The average income of San Francisco leavers rose at the start of the pandemic as wealthier white-collar workers, many of whom were able to work remotely, fled the city.
Crime, homelessness, and pandemic restrictions in San Francisco have triggered a mass exodus that cannot be resolved by a mere recall election. https://t.co/noL7rzEMnc
— Breitbart News (@BreitbartNews) 10 June 2022
“Net immigration from San Francisco, that is, the number of applicants minus the number of those who moved, has almost flattened over the course of a year.” San Francisco Chronicle reported.
chronic The report continued:
Total 2019 revenue for those leaving the city at the time of the 2020 declaration was approximately $10.6 billion, compared to $3.8 billion for those arriving in the city. Net loss was approximately $6.9 billion. Last year’s net loss was also negative, but smaller, at $2.6 billion, according to the IRS.
But fewer people living in the city means fewer jobs for local stores and directly contributed to the drop in sales tax revenue from $165 million in 2019 to $88 million in 2020. The city does not expect sales tax revenue to return to pre-pandemic. levels. Until the fiscal year starting July 2025.
chronic Ted Egan, San Francisco’s chief economist, said removing high-income residents would not hurt the city’s budget because the city does not collect personal income taxes. But fewer people living in the city and shopping at local stores directly contributed to tax revenue falling from $165 million in 2019 to $88 million in 2020.
The city of San Francisco, California, lost 6.3% of its population from July 2020 to July 2021, more than any other city in the United States. https://t.co/4iUScyyDgv
— Breitbart News (@BreitbartNews) July 24, 2022
“Our sales tax figures are weaker than the rest of the state,” Egan said. “This is another sign that we are experiencing a serious population decline.”
According to Breitbart News:
San Francisco’s rapid population loss was also driven by higher housing costs. reported. San Francisco in particular has been struggling to cope with the recent rise in homelessness, drug use and petty crime.
Many cities have seen an increase in crime and disorder following the Black Lives Matter riots in the summer of 2020.
Overall, the state of California lost 1% of its population in 2021 as more than 367,000 residents moved to other states.
Source: Breitbart
