3 ms·
You are missing the fact that tax is not the only factor for people to stay. California is an expensive state by most measures but somehow it doesn't seem to ha
by maxxxxx 8y ago
You are missing the fact that tax is not the only factor for people to stay. California is an expensive state by most measures but somehow it doesn't seem to have a problem keeping rich people in state.
- rvense 8y agoCalifornia has high taxes and great universities. This is why I'm quite perplexed that, even though many in my country state that they want to copy California's success, they are trying to do so by (among other things) lowering taxes and ruining our universities.
- nine_k 8y agoHow many big corps are incorporated in California? How many rich people control their wealth via some Cayman islands subsidiaries, etc? Having a nice $30M home in California is likely a small expense for the ultra-rich the article talk about.
- maxxxxx 8y agoAre you saying California is not a state with a lot of people having well-paid jobs and a lot of wealthy people? Would the state do better if it decided to lower taxes for the wealthy?
- jerf 8y agohttps://www.forbes.com/sites/patrickgleason/2018/07/06/millionaires-flee-california-after-tax-hike/ https://www.forbes.com/sites/patrickgleason/2018/07/06/milli... Not the only ones either: https://www.cnbc.com/2018/03/19/californians-fed-up-with-housing-costs-and-taxes-are-fleeing-state.html https://www.cnbc.com/2018/03/19/californians-fed-up-with-hou... Not saying it's a 100% exodus, but I'd definitely not call it "no problem".