In 2014, at least $20 billion in income will shift between U.S. states. In terms of wealth, the $20 billion income shift equates to about $100 billion in wealth, or about 0.2 percent of total wealth held by individuals and nonprofit corporations in the United States. Most would think the $100 billion is accounted for by looking at taxes, industry demand, and other economic/industry conditions. Would you think wealth shifting has anything to do with an area being a financial center? If so, would you guess individuals are moving their wealth to places with financial centers or away from financial centers?…
Why Are People Moving Away From Financial Centers?
Harrison Roger
Roger is an economic adviser and active angel investor. He owns various economics firms. His work allows him a diverse group of clients across the globe, including the United States, Europe, and Asia. He holds a Ph.D. in business economics.