They're like locusts...
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 ...
GMTA...........
Well, the good news is that they are importing plenty of poor people from Mexico to replace them.
Pray tell, what are all those damn guns for?
Suck it up, Kalifornia. You should’ve learned from the state with the MOST outflow of population — Michigan — where high taxes, liberal government, unions and no welfare caps are the rule of law.
As the founders intended.
The peak of that curve is optimal only if you think that government revenue should be optimized. It is far better for the citizenry to be living on the upward sloped left side of that curve, with even lower tax rates and less money going to the government.
Even the so-called Conservative economists start with the assumption that government revenue is a good thing.
They’re influencing local Pols to adopt those Cali laws and regs, (and toll roads) creating their own little utopia. (an unaffordable one at that) When Sun City moved here, I knew thing would go downhill fast.
I saw a T-shirt a while back that said something similar, “Montana sucks, now go home and tell your friends.”
OK, you lost me.
Now California is advertising on the TV for people to come and live there, instead of just advertising for tourist business. I always figure that a good product will sell itself, but when some guy is working hard to push a product on me, it probably is not as good as he makes it appear.
The other side of the equation is what is the quantity and quality of the goods and services that the state provides.
AR and CA are both high tax states but the CA taxpayer gets a lot more for his money than the AR taxpayer.
Or, TX and FL don't have income taxes but they have other taxes in lieu of income taxes.
Only if you are on the right side of the peak of the Laffer curve.
Great
Minds
Think
Alike...............
Animals and birds, as opposed to Liberals..know better than to foul their nests....
California is teetering on the edge of the abyss.
IMHO, the political will to balance the state budget, does not exist. Cannot exist, because the entire state has become a giant welfare program.
The (only) possible solution would be an Arizona-style law actually shutting down the hiring, of illegals. As we’re seeing in Arizona, this would cause illegals to begin self-deportation, and the massive drain on state budget funded services would begin a slow decrease.
The effect, would be hugh. Could be enough to save the state.
But it won’t happen. Because the state is now governed by democrats, with loyalties split between communists, and Mexico.
They're like locusts...
Many of them have been moving here to Oklahoma City over the past three to five years. They’ve been buying up a bunch of shopping centers, downtown property, apartments, etc. It’s helped to keep our real estate market fairly steady. Oklahoma City is a great place to live and a great place to do business. Homes are reasonably priced here and property taxes are surprisingly low, especially compared to California. I’m afraid that’s all going to change over the next 15 to 20 years if people from California continue to migrate here. I’m mostly concerned about how this could affect our political landscape in the long run. If you are a conservative from California, we welcome you. If you are a liberal from California, Washington State welcomes you.
It’s a wonder that middle class people can afford to live in California. If they start leaving in droves, then the state will really be in trouble.
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