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 ...
Yup, you’re right, Los Angeles doesn’t have much crime at all compared to other big cities. That’s so awesome, now I can move back.
But wait...I can’t afford a house anywhere near any of the areas that bring the crime average down. I’ll have to live in Monterey Park or Silverlake, in a one bedroom apartment I rent next to Fernando and his ten cousins. I guess I’d have to live in the area of Los Angeles that brings the average up. Hmm, I’ve already tried living in a middle-class area of Riverside, and got carjacked in my driveway and burglarized twice. I didn’t really like that. They even kicked my dog. I lived in an apartment in Tarzana 7 years ago, before Riverside, and even Tarzana was bad then...Fernando and his 8 cousins also dealt drugs. It’s a good thing I speak Spanish and can blend in.
Well, if I stay in a state with affordable housing, I don’t have to live in the big city itself. I can live in something called a “suburb,” where lots of other middle class people live, and their property taxes go to police who keep criminals from driving out here.
Sorry, that’s just reality for those people who aren’t part of the “landed class” in California, AND are “landed” in a decent area. I could double my salary and still not be able to buy a house in a decent area of LA. Californians are not moving from Los Angeles to Dallas. They’re moving from Riverside, or a crappy apartment in a better area, to a nice suburb of Dallas. You’re comparing apples and oranges.
Those stats for Seymour only look better because they don’t include the race-related lynchings, the death by tornados, car accidents on icy roads, and death by mosquito-born illnesses. Among other things.
“I have lived here my whole life and it pisses me off. The brag and boast about their liberal ideas but after screwing their own state up the move to mine and then want to change it to the the state they screwed up and just left.”
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Stand your ground.
What few realize, is the Californians they’ve seen moving into their states, are not like the next wave, you’ll be seeing.
The first ones out, sold and left at the very top. They left California, fat and happy, and felt very good about what they had come from - because it had made them very wealthy.
That equation is now broken. Big.
A huge number of otherwise successful middle-class and UMC Californians, are now in the process of watching, daily as they go upside down on hugely overvalued houses.
They’re afraid to sell, because they’ll lose their “ATM”. Everyone in CA, had gotten so used to the idea that house values go one direction - that quite a few used their house (even though it wasn’t paid for) as a source of spending money.
Suddenly. (and I do mean suddenly), that’s gone.
Now the houses are actually losing value, homeowners are holding massive mortgages as their equity evaporates, and the state is heading for a financial train wreck.
What position are most Californians in, now, to move elsewhere and start telling others how it’s done?
Many can’t. Some will sell at a loss (which for the fortunate who bought 10 years ago or more) will still leave them enough of a cash-out to comfortably move.
Some will just say “scr*w it”, manage to break even, and leave.
Some however, can’t. They’ll lose money, and end up elsewhere, downsized.
None of those soon-to-be migrating Californians, will be the arrogant, “we know what’s best” knotheads you’ve seen before.
The next batch, will be happy they’re where you are.
Please be nice to them.
Thank you. :)
Life can be tough in a place like that Fur Shur.
Sounds like a hoot!
The house we sold in Riverside went up $50,000 in one year back in 2002-2003. Now, there is a very similar house for sale on the same block with an asking price $50,000 more than that. FIVE YEARS later. Conservatively, those houses have gone down more than $200,000 since the peak.
They should stop taxing people at ridiculous rates if they want them to stay.
I lived in Bellevue, WA in the late 80s and there WERE bumper stickers which read "STOP THE CALIFORNICATION OF WASHINGTON STATE".
Within a couple of years, property values were greatly increased (hey..., they were dirt cheap if you sold in California), driving civility and courtesy were greatly diminished, and, in general, the whole social atmosphere declined.
As people flee they bring their problems with them to roost in their new environs!
So if we wait long enough California will either become more affordable, or a suburb of Mexico City.
Indianapolis and Los Angeles Comparative Crime Ratios per 100,000 People
Again what please, is the source of your multi-color graphs?
How is “Los Angeles” defined for those stats?
Does it include South LA? (”South-Central”)
Does it include Compton?
Does it include Long Beach?
East LA?
Source please...
Thanks. :)
Democrat? A Democrat said this? He sounds smart and yet he's a Democrat so he must be a moron. Argh! It's Catch-22!
lol
Oh, I am just making it all up as I go along, and my 10 year old is writing code for the graphic as I speak.
Anyway, if ya right click on the link, you'll eventually find your way to sources.
The majority of people coming into Texas from any other state are coming from California.
Thanks.
I don’t live in Indianapolis. Or Los Angeles.
The comparisons of Los Angeles to San Bernardino, Pomona, etc., show that the stats for Los Angeles are skewed. Figures lie and liars figure.
The problem that people keep pointing out to you is that areaconnect does not say exactly which areas are included as "Los Angeles." The definition does vary. Technically, Tarzana is still a part of Los Angeles. However, I think we can all understand that living in Tarzana is quite different than living in East LA. Or Watts.
Incorrect, and your implication is false.
If you'd take the time to read the thread...you'd realize I was only comparing California's *largest* city to other states *largest* cities. And I stated so multiple times.
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