A new study sheds light on just how much money California is losing as the state's most wealthy flee for greener pastures. In 2021, California missed out on $340 million in income tax revenue from the departure of the well-healed. While it's just a drop in the bucket of the state's $300 billion overall budget, the group that conducted the study says high cost of living and high personal income tax will continue to contribute to a wealth exodus in the years to come. KTLA's Andy Riesmeyer reports. Live, local news from L.A.'s Very Own, KTLA 5
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