California exodus turns to stampede

WorldNetDaily.com ^ | February 20, 2008

[Man50D]

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.

Based on data from moving companies, California had the second-highest domestic population out-flow of any state in 2005, according to the report, "despite the beautiful weather, beaches, and mountains."

The bad news for California is that it faces $14 billion deficit this year, despite boasting one of the highest tax burdens in the nation.

The report, published by the American Legislative Exchange Council shows jobs are not just leaving the country – they are moving from state to state, with the population following.

"States are in direct competition with each other for human capital and business investment. State governments that think they can attract jobs and people, and grow their economies, by taxing their citizens at a higher rate than their neighbors are sadly mistaken," said Democratic Arkansas state Sen. Steve Faris, ALEC's 2008 national chairman. "Legislators should take a close look at where their state ranks in this book and use it as a tool to help them improve."

[Arm_Bears]

Whither goest California . . .

[ARE SOLE]

More and more of us are deciding we don’t want to live in a mexican barrio.

[arthurus]

The flight from California is not good news for the rest of the nation. The refugees bring California with them wherever they go. “Colorado is nice but it needs more land use ordinances.” Idaho is nice but it needs more regulation of(fill in the blank).” That leads to the (excuse me)Californication of the rest of the West.

[6SJ7]

Liberals foul the nest with over-legislation and then wonder who ruined the state.

[FatherofFive]

The bad news for California is that it faces $14 billion deficit this year, despite boasting because of one of the highest tax burdens in the nation.

There. Fixed it.

[gridlock]

I was visiting my parents a few years ago, and we were sitting in the nice little Episcopal church in Sequim, Washington one Sunday morning. A new family had just moved up from California that week, and were introducing themselves. The Priest said a lot of people in the congregation were from California, and asked them all to hold up their hands. After hundreds of hands went up, he asked the people who were not from California to hold up their hands. The only people who raised their hands were me and my wife, and we had to explain that we were from New Jersey, but were just visiting for the week-end.

But one nice thing about people from New Jersey is that when we move to a new state, we do not feel compelled to re-create the pathologies of New Jersey everywhere we go.

[Vision]

My heart bleeds peanut butter for California.

[kublia khan]

The Nation will experience a similar outcome if the Bush Tax cuts are allowed to sunset or if taxes overall but especially Capital gains taxes are raised. Wealthy people did not become wealthy by making poor fiscal decisions. The people who really need to get the message are the three democrats currently running for the presidency.

[kublia khan]

Profound, my hat is off to you.

[CPOSharky]

"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."

Gee whiz, 5000 of the richest accounted for $7 billion in tax revenues for California.

These 5000 must have left because they wern't taxed enough.(/S)

[RSmithOpt]

I agree completely. Seems as though the liberal elite have nothing better to do than to focus on taking others peoples' monies and then telling them what they can or cannot do.

FYI: Californication = Collectivephornication

[Thermalseeker]

The flight from California is not good news for the rest of the nation. The refugees bring California with them wherever they go. “Colorado is nice but it needs more land use ordinances.” Idaho is nice but it needs more regulation of(fill in the blank).” That leads to the (excuse me)Californication of the rest of the West.

Tennessee sucks rocks. Pass the word......

[wolfcreek]

“But one nice thing about people from New Jersey is that when we move to a new state, we do not feel compelled to re-create the pathologies of New Jersey everywhere we go.”

Californians have been invading Texas for some time now, using monies from the sell of their homes and businesses to buy up real estate. It’s starting to take it’s toll.

[Ghost of Philip Marlowe]

“The bad news for California is that it faces $14 billion deficit this year, despite boasting one of the highest tax burdens in the nation.”

Not “despite,” “because it boasts” would be correct.

Once again, history proves that if you raise taxes, you lower revenue.

[FormerACLUmember]

Basic Economics 101 for California democrats (and "Republicans"):

Consider the Laffer Curve as your GPS. Your position is way east of "Y":

[arthurus]

They run away from conditions in California but they yearn for the laws and regulations that make those conditions. They don’t connect the taxes with those conditions and they don’t connect the super high housing with those conditions, etc. If they just move to Texas and get all the right laws and regulations instituted then everything will be swell. The land and air will stay pure without all that restriction of freedom and high cost of California.

[numberonepal]

Is Atlas Shrugging in Cali?

[Red Badger]

Atlas is shrugging in California...................

[arthurus]

And if taxes are raised, expenses will go up at a higher rate against the promise of new revenue. If a government has a deficit of 5% and raises taxes to cover that % the legislature will raise outlays to cover a multiple of the amount of the projected new revenue which then comes in at a fraction of the projection.