Posted on 10/23/2019 8:07:16 AM PDT by Olog-hai
California’s tax plan is “so egregious” that residents of every socioeconomic background are leaving the state, host of Fox Business Network’s Charles Payne said Wednesday.
California Democrats have raised taxes on high-income families again and again. While the left claims the measure doesn’t impact taxpayer migration or hurt state tax revenue, a new study conducted at Stanford University finds the opposite.
The report reveals a 2012 income tax increase drove away many high earners. As a result, the state only netted about half the revenue gains it expected. The increase in 2012 jumped from 10.3 percent to 13.3 percent and the measured departure rate for high-income earners rose from 1.5 percent to 2.125 percent. […]
Payne told the hosts (of Fox & Friends) that the “bifurcation between wealthy and poor in California is mind-boggling.” […]
“So, not only did a massive amount of people flee the state, those wealthy folks that had the wherewithal to do it paid themselves less money. You talk about an unmitigated disaster…,” said Payne. …
(Excerpt) Read more at foxnews.com ...
I can’t refute his conclusions but I can call him a racist, a homophobe and a white supremacist.
(Never mind the fact that he is black...)
Recall Newsom, draft McClintock. Vote straight Republican.
I can dream.
I don’t earn a whole lot of money and they still steal money from me every year
I hate those freaking people
That being said ,however I love my little town here in California .I love the weather . I love all my bike parks,legal and otherwise , all around the bay area that I ride my bike in every day
So I don’t think I’m ever going to give it up
Come on California ! we need some new politicians ! ones that give a crap like our great and wonderful president!
Going to hurt more later, as those high earners are the source of revenue to pay the 52% that work for the state.
This happens time and time again, across the country and around the world.
Liberals are dumb as hammers and not as useful.
Someone who is not afraid to call it like it is, instead of pussyfooting through a sham campaign and election, would actually attract voters out of the woodwork who have otherwise just given up.
California should pass a law requiring escapees to continue paying California taxes because shut up.
Laffer Curve, anyone?
I was third generation Californian. Did not really want to leave, but I was outvoted, as my sons had both moved to AZ. Family and the savings were significant factors that swayed me.
A childhood friend of mine did the same thing, moving to Prescott. He said his small tract of homes (30-40?) is 75% California Ex-pats.
Unfortunately too many move to red states and screw them up. Witness commierado.
After Army duty overseas, my folks and I sailed into Oakland in 1961.
Caifornia looked damned good to me.
Newsom and the Democrats are economic illiterates and they know nothing about dynamic analysis. They think in terms of static analysis. When you raise the marginal income tax rate some people will leave California and will be paying zero income tax to California. I remember reading about what the top 5,000 California income tax filers pay as a percentage of all the California income tax collected. If about 1,000 of them leave, there will be a huge hole in the California budget.
Unmitigated Disaster = California
It’s beyond being saved it’s forever a 3rd world state.
Count me among the leavers! I’m in Alabama now, working at NASA!
Prescott would have been a great place to move to about 30 years ago. Way too crowded now.
Olog-hai,
I bet your fellow Californian’s here in Arizona are voting the same stupid way they did there.
Go home -— every CA plate I see turns my stomach.
Huh, whoda thunk it.
My Calexit plan is in the works.
Me too, Michael. Born and raised in the Golden State, now in a small town in southern Arizona. My mom’s family had been there for several generations. My great-grandmother’s furniture had to be shipped “around the Horn” and my great-grandfather built the first hospital in central California. My dad, the son of Swedish immigrants, came to California after WWII to make a life for himself. And it was idyllic — gently conservative — for several generations. Then it turned hard left and is hurtling headlong toward self-righteous suicide.
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