Political Ideology and Economic Growth: A Tale of Northeast Cities vs. the Booming South

Billionaire Chamath Palihapitiya suggests that Northeast cities like NYC and Boston are losing income due to political ideology, while the South is experiencing economic growth. Data from the IRS shows that southern states collectively added $100 billion in new net income from 2020 to 2021, while the Washington-New York-Boston corridor lost $60 billion. The migration of wealth and economic power to the South is attributed to factors such as warmer weather, lower taxes, looser regulation, and cheaper housing. Palihapitiya argues that "woke" policies also play a role in the migration, sparking a debate with fellow billionaire Mark Cuban. The ongoing migration rates and their underlying causes continue to be a topic of discussion.