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California was not a high tax/investment state when SV was built and has boomed? New York wasn't during the boom of the financial industry (1980-now)?
by forapurpose 8y ago
California was not a high tax/investment state when SV was built and has boomed? New York wasn't during the boom of the financial industry (1980-now)?
- scythe 8y agoI could believe the first. Income taxes became high in California only after Proposition 13. New York on the other hand has been the largest US city since the colonial era.
- forapurpose 8y ago> Income taxes became high in California only after Proposition 13. Do you know of any data? I looked quickly online but with no luck. > New York on the other hand has been the largest US city since the colonial era. How is that related to tax rates?
- s73v3r_ 8y agoBut before then, weren't property taxes high?
- valuearb 8y agoCalifornia was booming so hard in the 1950s that within a single decade three MLB teams moved there, two directly from New York City, and California got another as an expansion franchise. This was well before Silicon Valley was anything, well before the "traitorous eight". California's economy was growing like topsy from before the early Hollywood days in the 1920s. San Francisco was an immensely wealthy city before then, because of the gold rush. Even today California's economy is so huge that Silicon Valley is only a small slice of it.