The Numbers Are Staggering and Accelerating [WATCH]

Fox Business host Stuart Varney said the United States is entering a new wave of domestic migration as residents and businesses leave high-tax blue states for lower-tax Republican-led states.

During a recent commentary, Varney cited projections from economists Art Laffer and Stephen Moore predicting that millions of Americans could relocate over the next several years because of tax policies and economic conditions in Democrat-controlled states.

“Let the Exodus begin,” Varney said. “Oh, actually, it started already.”

Varney described the trend as a large-scale movement of people, jobs, and wealth away from states with high taxes and heavier regulations.

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“We’re talking about mass migration within the United States from one group of states to another,” Varney said. “This is America, and we move. But you ain’t seen nothing yet.”

According to Varney, Laffer and Moore project that California and New York alone could lose 800,000 residents every year for the next three years.

“Consider this, in each of the next three years, 800,000 people will leave California and New York,” Varney said. “That’s 800,000 a year.”

He added that additional states are expected to experience similar population losses.

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“Another 500,000 will leave Connecticut, New Jersey and Minnesota,” Varney said.

Varney attributed the projections directly to tax policies in Democrat-led states, saying residents and businesses are increasingly moving toward states with lower taxes and more business-friendly environments.

“These numbers are from economists Art Laffer and Stephen Moore,” Varney said. “Quote, millions of people, 1000s of businesses and 10s of billions of net income will flee high tax, blue states for low tax red states.”

Varney argued the migration pattern represents a major economic shift benefiting Republican-led states.

“That’s the important point,” Varney said. “People and money and jobs moving out of Democrat states and moving to Republican states, taxes are what’s doing this.”

He also warned that recent tax policies could intensify the financial burden on higher earners living in blue states.

“As we’ve said many times, you make good money in a high tax Democrat state, and this new tax law will kill you financially,” Varney said.

According to Varney, the economic consequences could be severe for states losing residents and businesses, while lower-tax states stand to gain population growth, stronger housing markets, and higher revenues.

“This is terrible news for blue states,” Varney said. “It is a bonanza for low tax Texas, Florida, Nevada, Arizona, Tennessee, Utah and others.”

Varney described what he believes the migration wave could mean for those Republican-led states.

“Imagine what this migration actually means,” Varney said. “Strong demand for real estate of all kinds in low tax areas, people with money will be flooding in more jobs and business openings, stronger state revenues.”

He suggested the economic growth could even allow some states to lower taxes further.

“They may even be able to cut taxes,” Varney said. “Imagine that.”

Varney contrasted those projections with what he described as worsening conditions in high-tax states.

“But for the high tax states, it is a disaster,” Varney said.

He questioned whether professionals would continue relocating to states like New York if higher taxes reduced the benefits of higher-paying jobs.

“Would you move to, say, New York, to take a new job?” Varney asked. “If you’ll get hit with a tax hike? You will think twice.”

Varney concluded by warning that some progressive groups may push for even higher taxes on wealthy residents in blue states, which he said could accelerate the population exodus.

“For years we’ve been seeing migration,” Varney said. “Now get ready for mass migration.”

He then quoted the conclusion of Laffer and Moore’s article.

“I’ll conclude the way Laffer and more end their article quote delusional liberal interest groups want blue states to respond by soaking their rich residents even more,” Varney said.

“If that happens, our best advice to blue state residents is simple, Get while the getting is good,” Varney added. “Translation: Leave now.”

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