Posted on 07/10/2009 10:09:49 PM PDT by greatdefender
SACRAMENTO, Calif. – The poor are more likely to leave California than the rich, despite concerns that the state's relatively high income tax rate is driving away the wealthy, a new study shows.
The report released Friday by the Public Policy Institute of California determined the poorest 20 percent California residents are twice as likely to leave the state as the richest 20 percent.
Factors such as cheaper rent and home prices outside the Golden State seem to edge out income taxes when people of all incomes decide whether to stay or go, said institute researcher Jed Kolko, who authored the report.
"It does not look like rich people are leaving California in order to avoid income taxes," Kolko said.
Tax critics often claim the state's high cost of living and tax structure drive high-income earners out.
The study found that the rich — those in the top 20 percent of income earners — leave California at only a slightly higher rate than those who arrive. For those with incomes above $200,0000, the departure rate is only 1.09 households for every one household that arrives, the report said.
Meanwhile, 1.73 households with annual incomes of $22,000 or less depart California each year for every one out-of-state arrival.
States with no income tax such as Nevada, Texas and Washington are among the top five destinations for people of all incomes. Texas and Washington also export some of their wealthiest residents to California.
"States without income taxes are cheaper than California in other ways — housing costs, for example — that matter to all types of households, not only to those with the highest incomes," the report said.
(Excerpt) Read more at news.yahoo.com ...
That'll mean we'll be able to buy a mansion on 10 acrea in Arkansas for 5k.
Everything is relative.
By the way, can we put up a sign on the California border saying out-of-staters, stay out!!...
We could have avoided freaks like the Michael Jackson family from Indiana, Pelosi, from Maryland, Charlie Manson from Ohio, Barbara Boxer from New York....The list is endless. lol
Therein lies the rub....those who have told me to vote with my feet don't realize that this scenario is coming to the state near you...it just takes a little time for the fallout to spread...
Some of these states you can get a home for 90k or so...Yet a new quality pickup truck goes for around 50K???
Something is wrong with this picture.
California's finest for sure!
Even the former Governor....What was his name?? Gay Davis?...From NY...
Of course....This is like some fantastic Superman movie gone bad, where a con-man Communist from Africa becomes president..
Nothing surprises me anymore.
I keep thinking it's all just a bad dream...'cause it is just too stupid to be waking reality....
roflol
...anti-American trade agreements with communist nations, that is.
“For those with incomes above $200,0000, the departure rate is only 1.09 households for every one household that arrives, the report said.”
Hey genius, that is a 9% loss. If that is an annual rate and it continues at that rate in 8 years half the “wealthy” people in California will be gone.
Exactly...remember, the fantastic Superman movie gone bad, where a con-man Communist from Africa becomes president..of the ((U.S.))
The con-man puppet in chief and his conga-line of controlling Communist are now running the >whole show<.
Well 1.09 is 9%. It takes less than 3 years to hit 20% at that rate...
Us poor folks have less stuff to pack, and few (if any) economic or legal ties to a specific location.
My wife and I have a lot of “stuff”, but if necessary everything that is of utmost worth to us (in a non-life-threatening refugee situation) would fit into my small car. The rest can go to Goodwill (a lot of it came from there anyway).
(In a life-threatening refugee situation, we are prepared to walk out, though resupply and shelter would be needed quite soon.)
Some facts that we know (US Census Bureau):
1) California's population is growing. Chiefly from (illegal) immigration and birth.
2) Birth rates among immigrants are almost twice that of the resident population.
3) Births with Hispanic surnames are now majority in California but represented a steady 15% for the 100 years prior Reagan opening the flood gates in 1983.
;-)
Frustrating isn’t it...
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