Posted on 02/21/2008 4:07:43 AM PST by Man50D
WASHINGTON – California, which once lured Americans from near and far, is now driving out millions of the most productive residents – including high percentages of the most affluent.
"When California faced a Mount Everest-sized $14 billion deficit in 2003, one of the major causes for the red ink was the stampede of millionaire households from the state," says a report called "Rich States, Poor States" by economists Arthur Laffer and Stephen Moore. "Out of the 25,000 or so seven-figure-income families, more than 5,000 left in the early 2000s, and the loss of their tax payments accounted for about half the budget hole."
And it's not just the rich leaving.
Based on data from moving companies, California had the second-highest domestic population out-flow of any state in 2005, according to the report, "despite the beautiful weather, beaches, and mountains."
The bad news for California is that it faces $14 billion deficit this year, despite boasting one of the highest tax burdens in the nation.
The report, published by the American Legislative Exchange Council shows jobs are not just leaving the country – they are moving from state to state, with the population following.
"States are in direct competition with each other for human capital and business investment. State governments that think they can attract jobs and people, and grow their economies, by taxing their citizens at a higher rate than their neighbors are sadly mistaken," said Democratic Arkansas state Sen. Steve Faris, ALEC's 2008 national chairman. "Legislators should take a close look at where their state ranks in this book and use it as a tool to help them improve."
(Excerpt) Read more at worldnetdaily.com ...
Please tell your governors it ain’t working. We read the papers here too. Ad the fact that Tennessee is full of your states refugees, all the slick advertizements in the world can't undo the horror stories we hear.
Some of us have our grown kids back home. Rents are as ridiculous as the real estate market was.
It's worth it - you'll love the place.
Yep, just like “manifest destiny” had an impact on the Native Americans. Turnabout ain’t fair, but it does happen, eventually.
And all the so-called conservative Republicans in California just could not get enough of Schwarzenegger. Don’t blame me, I voted for McClintock.
California State Mottos:
1960s: Peace Man.
1970s: Disco duck!
1980s: CHiPs... And chips.
1990s: “Welcome to California, now go home”
Now: “That does it, I’m leaving!”.
All part of the big liberal plan. The illegals are survivors and will be in hog heaven as real estate comes available cheap.
Yes, and taxes and regulation are going up now. I could just spit. But the Republican party here is a clown show.
The reasons for moving from California to rural America are obvious...as you list. The problem is that when they move to hickville, Idhao, Montana, Wyoming, they think they have some sort of responibility to enlighten everyone to the California way.
My neighbor and long-time friends sold their ranch located adjacent to my place to a Califonia jerk with a lot of $$. The first battle was range cows in his pasture...he didn’t get the rule that cows are fenced OUT...his fences are in bad shape and he apparently thinks it’s everyone elses responsibility to maintain his fences. Then the battle went to water rights...next it was property lines and fences...next it was locked gates and trying to keep the public off the public roads and trails. I suspect this is the summer I’ll have to grab him and “explain” how things in California don’t work here. I’m looking forward to it.
LOL you must be the only ones. One of the biggest problems here is yankees moving in from places like NJ, NY, MA, etc. and then immediately pushing for higher taxes and more government intervention in everything.
I remember L.A., before the freeways.
I’ve thought for a long time that where people choose to live and work says more about them and what they really think politically.
The trends from liberal to conservative areas, both in terms of regional, state, and local (eg, cities to suburbs) tells buckets about what people view as the superior ideology and lifestyle.
Actions speak louder than words. Goodbye California. You were once great, but grew fat and happy until your arteries clogged beyond repair.
Missouri isn't any better. Plus we have the highest concentration of lead deposits in the world. You probably can't drive across the state line without getting lead poisoning.
Drat! I guess I might as well just stay in New Jersey, then!
California needs a law that allows people to leave California but they have to leave their money. This is more evidence that taxes are going to go up for the lower income people who can’t afford to leave.
Here in Minnesota you see them during the summer. They comment on how nice it is, but they never seem to make it through the winter. It's always a new batch the next year.
All taxes will be increased and Capital gains tax will be a big one going to 30 to 40% in my guesstament (because the rich need to pay their fair share). With the Capital gain tax increase the stock market will go dormant ( ie. very little trading) companies will lay off and reinvest less into then self's and just sit on the cash.
Cash is a position and business will just wait until cash is not the best position.
After all the tax increases tax revenues will drastically fall and the solution will be to raises taxes.
This is interesting. There are the same number of liberals, but since they are distributed over more states, there will be more liberal states. This makes me wonder if the liberal plans to get rid of or water down the electoral college might be abandoned.
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