It seems like the high taxes, repressive regulations, runaway spending, and such is starting to catch up with California. As in the book "Atlas Shrugged", the productive are leaving and withholding their contributions from a society where the successful and wealthy are punished. However in this case, they are simply moving to other states. Hopefully most of them leave California politics behind as well.
Yea it sucks that my state, North Dakota, is #1 in outmigration in the article, but that is my states problem and for different reasons than CA.
The rest of the article is Here.
Yea it sucks that my state, North Dakota, is #1 in outmigration in the article, but that is my states problem and for different reasons than CA.
California exodus turns to stampede
High taxes drive jobs, people from one state to another
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......
The rest of the article is Here.