Wealthy residents fleeing Washington

Washington state, a beacon for innovators and entrepreneurs, is witnessing a troubling trend: a steady outflow of its wealthiest and most entrepreneurial residents.

High taxes, burdensome regulations and an anti-business climate are pushing the wealthiest and high-earners to sunnier, lower-tax havens such as Nevada, Texas and Florida.

Far from the progressive narrative of a booming millionaire class, recent data reveals a selective exodus among the wealthy, threatening the state’s economic vitality.

Consider the numbers.

A 2024 Smart Asset study analyzing IRS migration data, found Washington l...