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California exodus turns to stampede
WorldNetDaily.com ^
| February 20, 2008
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 ...
TOPICS: Business/Economy; Culture/Society; Government; News/Current Events; US: California
KEYWORDS: arthurlaffer; bluestates; calbudgetcaexodus; california; californication; democratparty; exodus; immigration; liberals; publicpolicy; stephenmoore; taxes; taxtherich
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1
posted on
02/21/2008 4:07:44 AM PST
by
Man50D
To: Man50D
Whither goest California . . .
2
posted on
02/21/2008 4:09:28 AM PST
by
Arm_Bears
(See Rock City!)
To: Man50D
More and more of us are deciding we don’t want to live in a mexican barrio.
3
posted on
02/21/2008 4:11:21 AM PST
by
ARE SOLE
(Agents Ramos and Campean are in prison at this very moment.. (A "Concerned Citizen".)
To: Man50D
The flight from California is not good news for the rest of the nation. The refugees bring California with them wherever they go. “Colorado is nice but it needs more land use ordinances.” Idaho is nice but it needs more regulation of(fill in the blank).” That leads to the (excuse me)Californication of the rest of the West.
4
posted on
02/21/2008 4:14:08 AM PST
by
arthurus
To: arthurus
Liberals foul the nest with over-legislation and then wonder who ruined the state.
5
posted on
02/21/2008 4:27:08 AM PST
by
6SJ7
To: Man50D
The bad news for California is that it faces $14 billion deficit this year, despite boasting because of one of the highest tax burdens in the nation. There. Fixed it.
6
posted on
02/21/2008 4:34:29 AM PST
by
FatherofFive
(Islam is an EVIL like no other, and must be ERADICTED)
To: arthurus
I was visiting my parents a few years ago, and we were sitting in the nice little Episcopal church in Sequim, Washington one Sunday morning. A new family had just moved up from California that week, and were introducing themselves. The Priest said a lot of people in the congregation were from California, and asked them all to hold up their hands. After hundreds of hands went up, he asked the people who were
not from California to hold up their hands. The only people who raised their hands were me and my wife, and we had to explain that we were from New Jersey, but were just visiting for the week-end.
But one nice thing about people from New Jersey is that when we move to a new state, we do not feel compelled to re-create the pathologies of New Jersey everywhere we go.
7
posted on
02/21/2008 4:40:15 AM PST
by
gridlock
(Proud McCain Supporter since February 7, 2008.)
To: Man50D
My heart bleeds peanut butter for California.
8
posted on
02/21/2008 4:44:13 AM PST
by
Vision
("If God so clothes the grass of the field...will He not much more clothe you...?" -Matthew 6:30)
To: Man50D
The Nation will experience a similar outcome if the Bush Tax cuts are allowed to sunset or if taxes overall but especially Capital gains taxes are raised. Wealthy people did not become wealthy by making poor fiscal decisions. The people who really need to get the message are the three democrats currently running for the presidency.
9
posted on
02/21/2008 4:46:06 AM PST
by
kublia khan
(Absolute war brings total victory)
To: 6SJ7
Profound, my hat is off to you.
10
posted on
02/21/2008 4:48:10 AM PST
by
kublia khan
(Absolute war brings total victory)
To: Man50D
"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." Gee whiz, 5000 of the richest accounted for $7 billion in tax revenues for California.
These 5000 must have left because they wern't taxed enough.(/S)
11
posted on
02/21/2008 4:50:38 AM PST
by
CPOSharky
(Energy plan: Build refineries and nuke plants, drill for our oil, mine our coal.)
To: arthurus
I agree completely. Seems as though the liberal elite have nothing better to do than to focus on taking others peoples' monies and then telling them what they can or cannot do.
FYI: Californication = Collectivephornication
12
posted on
02/21/2008 4:52:09 AM PST
by
RSmithOpt
(Liberalism: Highway to Hell)
To: arthurus
The flight from California is not good news for the rest of the nation. The refugees bring California with them wherever they go. Colorado is nice but it needs more land use ordinances. Idaho is nice but it needs more regulation of(fill in the blank). That leads to the (excuse me)Californication of the rest of the West. Tennessee sucks rocks. Pass the word......
13
posted on
02/21/2008 4:52:24 AM PST
by
Thermalseeker
(Silence is not always a Sign of Wisdom, but Babbling is ever a Mark of Folly. - B. Franklin)
To: gridlock
“But one nice thing about people from New Jersey is that when we move to a new state, we do not feel compelled to re-create the pathologies of New Jersey everywhere we go.”
Californians have been invading Texas for some time now, using monies from the sell of their homes and businesses to buy up real estate. It’s starting to take it’s toll.
14
posted on
02/21/2008 4:52:57 AM PST
by
wolfcreek
(Powers that be will lie like Clintons and spend like drunken McCains to push their Globalist agenda.)
To: Man50D
“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.”
Not “despite,” “because it boasts” would be correct.
Once again, history proves that if you raise taxes, you lower revenue.
15
posted on
02/21/2008 4:53:31 AM PST
by
Ghost of Philip Marlowe
(If Hillary is elected, her legacy will be telling the American people: Better put some ice on that.)
To: Man50D
Basic Economics 101 for California democrats (and "Republicans"):
Consider the Laffer Curve as your GPS. Your position is way east of "Y":
16
posted on
02/21/2008 4:54:17 AM PST
by
FormerACLUmember
(When the past no longer illuminates the future, the spirit walks in darkness.)
To: wolfcreek
They run away from conditions in California but they yearn for the laws and regulations that make those conditions. They don’t connect the taxes with those conditions and they don’t connect the super high housing with those conditions, etc. If they just move to Texas and get all the right laws and regulations instituted then everything will be swell. The land and air will stay pure without all that restriction of freedom and high cost of California.
17
posted on
02/21/2008 5:09:10 AM PST
by
arthurus
To: Man50D
Is Atlas Shrugging in Cali?
18
posted on
02/21/2008 5:11:10 AM PST
by
numberonepal
(Don't Even Think About Treading On Me)
To: ARE SOLE; gridlock; 6SJ7
Atlas is shrugging in California...................
19
posted on
02/21/2008 5:11:48 AM PST
by
Red Badger
( We don't have science, but we do have consensus.......)
To: Ghost of Philip Marlowe
And if taxes are raised, expenses will go up at a higher rate against the promise of new revenue. If a government has a deficit of 5% and raises taxes to cover that % the legislature will raise outlays to cover a multiple of the amount of the projected new revenue which then comes in at a fraction of the projection.
20
posted on
02/21/2008 5:13:35 AM PST
by
arthurus
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