Liz Peek joined Fox Business’s The Big Money Show to discuss the accelerating flight of wealthy residents and businesses from high-tax blue states — a trend now playing out in Washington as the state moves to impose a new millionaire’s tax. Peek argued the pattern is neither new nor surprising. “It’s not just Washington, obviously, it’s blue states and blue cities around the country that keep hiking taxes, and they are losing residents,” she said, pointing to a Committee to Unleash Prosperity study that found high-tax blue states lost roughly $2 trillion in income to red states between 2012 and 2023.
“This is not a mystery. It’s not rocket science to imagine that if you make people unwelcome financially in your hometown, guess what? They’ve got options,” Peek said. She ticked off a string of high-profile departures from Washington — former Starbucks chief Howard Schultz, the head of Zillow, and Amazon founder Jeff Bezos, who relocated to Miami. However politely they explain the move, Peek said, the real driver is obvious: “The reason they don’t want to pay an extra 10% to the government. Why would they?”
