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Townhall.com ^ | February 2, 2013 | Charles Payne

Posted on 02/02/2013 3:28:29 PM PST by Kaslin

There is a serious scramble in this country to keep hard-earned money. Sure, the media points out the nation reelected President Obama and his agenda of high taxes and slow growth, but the majority of earners are voting in a different manner. They are seeking new places to live and putting money into the bank or under the mattress. Ironically, more and more are coming to the stock market knowing gains will be hijacked, but the net might still be better than low interest rates coupled with a dilapidated currency.

Last week Phil Michelson was pilloried by the national media for daring to say it's time to check out of California after Proposition 30 passed, which created four new high income tax brackets, with $1.0 million earners paying an extra 3% plus another 1% for mental health spending.

In addition, there was an increase in sales tax to 7.5% from 7.25%. So Phil, who pays 43% to Uncle Sam, will have another 13.3% of his income snatched, and he had the nerve to complain, suggesting it might be time to break out the driver, pack the bags, and get the hell out of town & state.

It's unfortunate he had to take the heat, which didn't get better even when Tiger told the press that's why he left, and that was before the latest tax increase. Keep in mind that even now people earning more than $48,000 have a whopping 9.3% tax hit. If Phil leaves, it could take him a long time to actually get out of the state because it's been a crowded line.

California's population grows each year, but it's very deceptive. There has been massive migration of the state's mostly educated and motivated people to other states.

California isn't the only state that has seen a massive move of able-bodied adults seeking to not only earn money, but to actually keep it. It's resulted in massive income expansion in states like Florida, Texas, North Carolina, Nevada, and South Carolina. In the meantime, New York, New Jersey, and Illinois might have to consider border fences to keep the folks inside.

More recently, Maryland has seen a massive exodus after the governor there raised taxes and fees 24 times in a three year period. Presto...31,000 folks, their skills, and income- gone! This isn't new, although when these proposals and decisions are made, the masses are always told not to worry. The magic elixir of higher taxes actually makes things, worse whether on a national or local level and no matter the country.

For those that can't move, it seems like they're just going to hunker down and squirrel their money away. Take yesterday's news on income and spending. The 2.6% monthly increase in income was the biggest jump since May 2009 as an extra $26.0 billion in special dividends and $15.0 billion in early bonuses coupled with the Hurricane sandy slowdown in November, made a lot of pockets swollen. Americans flush with cash should have resulted in a great month for retail.

That's not what happened, as retail sales continued to decrease throughout the month and consumption only edged up 0.2%. Moreover, savings surged to 6.5%, almost double the September reading. America used to be a sea of faith washed in optimism and opportunity. Now we grapple with confused alarms and flight.

Earners are fleeing the assault on their wallets. Phil is ready to bolt as well. He will not be the first or the last.


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS:

1 posted on 02/02/2013 3:28:33 PM PST by Kaslin
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To: Kaslin
Last week Phil Michelson was pilloried by the national media for daring to say it's time to check out of California after Proposition 30 passed...

I'll always wonder how someone who could hold his nerve to win the Masters folded like a Repub in front of the "media". I would have gone after the "media"; I would have asked them who they think they are to dare question my motives; that it's my business if I don't want to pay more in taxes than I have to; that in a free country, it's the individual that decides what his "fair share" is and not the "media".

2 posted on 02/02/2013 3:44:25 PM PST by jeffc (The U.S. media are our enemy)
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To: Kaslin
It's resulted in massive income expansion in states like Florida, Texas, North Carolina, Nevada, and South Carolina.

Ping for later

3 posted on 02/02/2013 3:47:02 PM PST by Alex Murphy ("If you are not firm in faith, you will not be firm at all" - Isaiah 7:9)
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To: Kaslin
I just got a notice in the mail claiming that the $350 California state tax that was confiscated and returned to me last year (as a portion from the previous years tax ) will be considered taxable income.

Mere taxation is not enough for them, they need to tax the tax

4 posted on 02/02/2013 3:53:56 PM PST by KTM rider ( American at heart..... Rebel by force)
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To: jeffc

I don’t believe he folded to media pressure.

I believe he made a financial decision.

IMHO, the companies who pay him for endorsements (perhaps 50% of his annual income, or more) just do not appreciate controversy.


5 posted on 02/02/2013 3:55:45 PM PST by steve in DC
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To: steve in DC
IMHO, the companies who pay him for endorsements (perhaps 50% of his annual income, or more) just do not appreciate controversy.

Interesting thought.

6 posted on 02/02/2013 3:58:14 PM PST by jeffc (The U.S. media are our enemy)
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To: steve in DC

Oh, yeah. He works for them. He has a lot of money but that only gives him fteedom if he’s willing to not only walk away from these guys but to deal with the pressure. They’ve got a lot of money invested in him.

He forgot about that.


7 posted on 02/02/2013 4:06:49 PM PST by stanne
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To: Kaslin

Fleeing one state for another is not going to save anyone from Obama’s draconian USSA.
Soon, everyone will have to think of fleeing the country as I did.


8 posted on 02/02/2013 4:26:35 PM PST by AlexW
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To: Kaslin; l8pilot; 2A Patriot; 2nd amendment mama; 4everontheRight; 77Jimmy; ...
It's resulted in massive income expansion in states like Florida, Texas, North Carolina, Nevada, and South Carolina.

Yeah. But the downside is that most of the "expansion" are RATS.

I was talking today with a recent arrival from New Jersey. She said she liked the Aiken area real well, "but I wonder if I'll really fit in because I'm a Democrat." I kidded her by suggesting, "You've moved to one of the reddest states in the Union. Maybe you'd consider a conversion?"

South Carolina Ping
Send FReepmail to join or leave this list.

9 posted on 02/02/2013 4:34:42 PM PST by upchuck (America's at an awkward stage. Too late to work within the system, too early to shoot the bastards.)
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To: Kaslin; l8pilot; 2A Patriot; 2nd amendment mama; 4everontheRight; 77Jimmy; ...
It's resulted in massive income expansion in states like Florida, Texas, North Carolina, Nevada, and South Carolina.

Yeah. But the downside is that most of the "expansion" are RATS.

I was talking today with a recent arrival from New Jersey. She said she liked the Aiken area real well, "but I wonder if I'll really fit in because I'm a Democrat." I kidded her by suggesting, "You've moved to one of the reddest states in the Union. Maybe you'd consider a conversion?"

South Carolina Ping
Send FReepmail to join or leave this list.

10 posted on 02/02/2013 4:35:46 PM PST by upchuck (America's at an awkward stage. Too late to work within the system, too early to shoot the bastards.)
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To: Kaslin

“Ironically, more and more are coming to the stock market knowing gains will be hijacked”

Approximately 85% of ALL TRADES in the Stock Market are between about 5 too big to fail financial institutions, trading AMONGST THEMSELVES, driving prices higher in the hope of suckering in the General public back in to be FLEECED.


11 posted on 02/02/2013 4:45:36 PM PST by eyeamok
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To: steve in DC

Precisely right. He got spanked by his sponsors...”Phil, if you want to keep rolling in the green, go apologize.”

Same thing with the Whole Foods founder and CEO John Mackey. He compared Obamacare to “fascism,” but reversed course a day or two later, no doubt after the Board said “John, we’ rather you didn’t alienate 80% of our customer base. Now go apologize.”

When one speaks honestly about the insanity of run-amok liberalism or is critical of the Messiah, money interests quickly whack you upside the head. You reverse course or lose your gravy train.


12 posted on 02/02/2013 5:09:14 PM PST by ProtectOurFreedom
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To: AlexW
"Soon, everyone will have to think of fleeing the country as I did."

Nope.

Most will give up everything for the comfort of the Obama teat.

13 posted on 02/02/2013 5:47:05 PM PST by blam
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To: blam

“Most will give up everything for the comfort of the Obama teat.”
________________________________________

I am not referring to the Obots.
As America becomes a Marxist state, the freedom lovers will
leave...if they can.
We do not want Obama’s teats...how disgusting to think of it.


14 posted on 02/02/2013 5:53:25 PM PST by AlexW
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To: AlexW
"We do not want Obama’s teats...how disgusting to think of it."

Agreed.

There are many here who do and that number is apparently increasing.

15 posted on 02/02/2013 6:17:43 PM PST by blam
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To: upchuck

Kidded??? The main reason N.Va, The Denver area, Oregon and Washington, etc... have gone to hell is because RATs metastatized there and bring their politics, which are the cause of them wanting to exit their origination point in the first place.


16 posted on 02/02/2013 6:54:49 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: blam

Most of the “teats” were already there, put there by a consortium of Democrats and Republicans. Obama is bragging that they are his.


17 posted on 02/02/2013 10:04:46 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Kaslin; RIghtwardHo; Reaganite Republican; Clintons Are White Trash; HerrBlucher; mgist; ...
+

Freep-mail me to get on or off my pro-life and Catholic List:

Add me / Remove me

Please ping me to note-worthy Pro-Life or Catholic threads, or other threads of general interest.

18 posted on 02/02/2013 10:06:37 PM PST by narses
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To: KTM rider

LOL!
You gotta be kidding... California wants to tax the tax money they wrongly confiscated and then returned to you?

Advice: Get out of that stinking pisspot.
Run, don’t walk.


19 posted on 02/02/2013 10:26:39 PM PST by Lancey Howard
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To: steve in DC

That is what I think happened also.


20 posted on 02/02/2013 10:39:37 PM PST by jospehm20
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To: KTM rider

It’s the new plan to solve all government revenue problems. The feds will tax you 110 percent of your gross income while the state, country and city will do the same. There will be plenty of income to create the perfect society. Where do you get the money to pay the taxes? That’s your problem, they can’t be bothered with details.

I have tried hard to make the above paragraph slightly MORE absurd than what passes for thinking among liberals these days but I am not sure that I succeeded.


21 posted on 02/03/2013 8:24:23 AM PST by RipSawyer (I was born on Earth, what planet is this?)
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To: blam; AlexW

Fleeing the country may work well for some and I have done a lot of thinking on that subject myself but I think there would soon be a shortage of places to flee to. I think the same thing when I look at some of the free advice on “bug-out” plans. I live near a small town, on a large creek with eight acres and no mortgage. Where would I “bug-out” to?


22 posted on 02/03/2013 9:20:34 AM PST by RipSawyer (I was born on Earth, what planet is this?)
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To: RipSawyer
"Where would I “bug-out” to?"

Bug-In!!

23 posted on 02/03/2013 11:25:19 AM PST by blam
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To: Kaslin

Come to Midwest, you’ll love it.


24 posted on 02/03/2013 7:40:09 PM PST by annalex (fear them not)
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