California lost 2.2 million people with a combined Adjusted Gross Income of $48 billion. All of the top 10 net-loss states were blue states, with the exception of Louisiana, which lost people due to Hurricane Katrina.
You can only tax the productive class so much before they get out of Dodge.
And where are these economic refugees landing? Low tax states like Florida, Arizona, North Carolina, Georgia, and Texas.
California's 9.55% income tax on that lost $48 billion in income would be a big chunk of the state's chronic deficit.
Memo to Democrats: people respond to incentives!
See also Skeptical CPA: Escape from New York and CEO survey: California worst state for business.
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2 comments:
Once the National Railroad Committee passes the "Anti-Dog Eat Dog" act and Congress passes the "Equalization of Opportunity act" I'm sure all will be well.
I never understood why we have fifty states with fifty different sets of rules.
It's not fair to the little guy who is trying to make a living if nobody gives him a chance.
I fucking hate leeches and moochers. I worked my damn ass off, and now Arnold is in China and Japan selling our birthright if "they" would help us out on the highspeed rail. Sure they will, huh.
Count me out, California can kiss my ass AND my tax receipts goodbye in a little over a month. I'd wish this state to fall into the ocean if good folks like WCV weren't stuck here with their 30 yr Zimbabwe Ben cribs.
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