The wealthy are fleeing California....surprise, surprise!!

VenomJockey · Oct 23, 2019

https://www.foxnews.com/media/charles-payne-california-tax-increase-residents-leaving

Excerpt: "California's tax plan is "so egregious" that residents of every socioeconomic background are leaving the state, host of Fox Business Network's Charles Payne said Wednesday.

California Democrats have raised taxes on high-income families again and again. While the left claims the measure doesn't impact taxpayer migration or hurt state tax revenue, a new study conducted at Stanford University finds the opposite.

The report reveals a 2012 income tax increase drove away many high earners. As a result, the state only netted about half the revenue gains it expected. The increase in 2012 jumped from 10.3 percent to 13.3 percent and the measured departure rate for high-income earners rose from 1.5 percent to 2.125 percent."

DrHenley · Oct 23, 2019

Big Surprise...The left just really does not understand economics at all.

Mountain trapper · Oct 23, 2019

I think they should charge the "rich" a 100% tax to leave California. That way they won't be moving to my State stinking up the place.

tmttactical · Oct 23, 2019

Maybe the states receiving the New California people, can charge them a huge "HAZMAT" fee for bringing their contamination to the free states.

Dani · Oct 23, 2019

I am not surprised. . . We long as we don't get the transporters here that want to change our ways. We already have enough of those.

Proud Prepper · Oct 23, 2019

I have a family member that's a multi millionare in CA, I'm sure they are getting taxed to death and then after death. I have no idea why she is still there.

TexasFreedom · Oct 23, 2019

Being a millionaire in CA doesn't mean much. I remember visiting a friend back in the 80's who had a $1,000,000 home in Tokyo, Japan. His house was maybe 1/2 the size of my shed (1200 sq ft?) and on maybe 1/6th acre of land. I think other States should tax those exiting liberal hellholes at a sliding scale, and not allow them to vote for local elections for a 10 year "retraining" period. I'm serious.