Yes, SOME rich won’t leave California, everyone has some reasons to stay put and not bother with moving.
BUT many rich ARE leaving California!
Why stay when you can live as well, or better, in as nice or better communities.... in several of the other 57 states ...
and...
not pay California’s 10% income tax
not pay California’s 9% sales tax
not pay double for every restaurant meal or other things you buy (due to the state’s extremely high costs of doing business, business taxes, and oppressive regulatory overload)
and yes, you can get 2, 3, 5 or even 10 times the housing for the same price, in many, many very nice places around America. some very nice places...
So, the rich who are not TIED down to California, and who have at least two brain cells to rub together, ARE getting OUT, and as FAST as they possibly can!
And from all signs anyone can see there, the trend is accelerating... as the state’s Governor seeks to raise income and sales taxes even higher than they already are!
Up Up and AWAY
(California’s taxes and costs of living go UP and UP ,.... and all those that can get AWAY as fast as they can)
So, the rich who are not TIED down to California, and who have at least two brain cells to rub together, ARE getting OUT, and as FAST as they possibly can!
Yup, the Rich are first to leave because they have the most to lose and they have the money to up and move if they need to, Middle class and especially lower middle class have the hardest time leaving because they live on razor thin margins... The poor are too, but the working poor are the most stuck.