Who would’ve thought – people don’t like paying taxes?
Liberals may tell you otherwise, that “the rich” have so much money anyway that taxes won’t influence their decision, but they must not know many rich people. Not only that, they act as if high taxes only affect rich people. Taxes at the State and Local level have a tendency to be regressive, that is, they damage the poor more proportionally (as a percentage of their income).
High taxes are useless when people can simply vote with their feet and move to a different State. It isn’t exactly hard to do, and it’s a no brainier when it can save a taxpayer thousands of dollars a year for the rest of their lives.
There’s a trend nationally of those in Blue States to Red States. This is occurring at a rate of 1,000 a year, which adds up pretty fast over the course of a year. In other words, lower-taxed Red States are actually seeing more revenue come in as they attract more residents, while high tax states are losing taxpayers. It’s better to tax 10% of something than 50% of nothing.
Via The Young Cons
At least 9,000 companies have left California from 2008 to 2015, according to the 378 page study by Spectrum Location Solutions titled, California’s Forty Year Legacy of Hostility to Business.
Joseph Vranich, president of site selection consultants Spectrum Location Solutions (VLS) in Irvine, found that roughly 9,000 California companies moved their headquarters or diverted projects to out-of-state locations in the last seven years due to the Golden State’s “hostile” business environment.
According to the Wall Street Journal, Brown tried to convince reporters on a late 1970s junket to Japan that “Our economic climate is very good.” He added, “I think this is dissipating a good deal of the political rhetoric surrounding the business-climate talk.”
…Vranich told the Dallas Business Journal that companies that are leaving California to escape escalating costs and regulations can move to Texas or Nevada that have no income tax and high relative purchasing power. According to Vranich, “I even wonder if some kind of ‘business migration history’ has been made.”
VLS estimates that many former California companies that moved to more business friendly locals have experienced “astonishing” operating cost savings of 20 up to 35 percent.
The top 10 states that California businesses have relocated to over the last seven years are in the following order: (1) Texas; (2) Nevada; (3) Arizona; (4) Colorado; (5) Washington; (6) Oregon; (7) North Carolina; (8) Florida; (9) Georgia; and (10) Virginia.
For anyone curious on learning more on the difference between conservatism and liberalism at the State by State level, John Stossel devoted an episode of his FOX Business show to comparing and contrasting Texas and California.