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.
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".
Ping for later
Mere taxation is not enough for them, they need to tax the tax
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.
Interesting thought.
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.
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.
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?"
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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
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“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.
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.
Nope.
Most will give up everything for the comfort of the Obama teat.
“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.
Agreed.
There are many here who do and that number is apparently increasing.
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.
Most of the “teats” were already there, put there by a consortium of Democrats and Republicans. Obama is bragging that they are his.
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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.
That is what I think happened also.
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