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California better stop punishing entrepreneurs with it's heavy tax stick before experiencing disaster in it's tax revenues. Exodus seems to be accelerating.
by gesman 8y ago
California better stop punishing entrepreneurs with it's heavy tax stick before experiencing disaster in it's tax revenues.
Exodus seems to be accelerating.
- jdhn 8y agoI've heard the argument that despite the heavy tax burden, it's just treated as another cost of doing business due to all the benefits of being in the Bay Area (depth of talent pool, fantastic network support, oodles and oodles of VC money, etc).
- hellisothers 8y agoTalk of exodus is certainly accelerating
- nrb 8y agoThis viewpoint doesn't appear to jive with the one being portrayed currently[1], that the exodus is only among the poor/middle-class and that the immigration of the rich and high-earners is actually accelerating. 1: https://www.latimes.com/politics/la-pol-sac-skelton-income-tax-california-wealthy-20190311-story.html https://www.latimes.com/politics/la-pol-sac-skelton-income-t...
- stcredzero 8y agothe exodus is only among the poor/middle-class and that the immigration of the rich and high-earners is actually accelerating. Is that supposed to make the groupthink better or worse? I suspect worse, as it's reducing the viewpoint diversity, as viewpoint is affected by socioeconomic status and livelihood.
- hellllllllooo 8y agoI think the point is that tax isn't driving an exodus of businesses/entrepreneurs as OP suggested. The opposite is true and it's driving out lower income people. Oakland, for example, is growing like SF with 10+ tall buildings going up this year downtown to accommodate tech companies and their employees.
- stcredzero 8y agoThe opposite is true and it's driving out lower income people. Which would reduce viewpoint diversity. Please check your reading comprehension. You seem to have gotten it 180 degrees in the wrong direction.
- hellllllllooo 8y ago> Please check your reading comprehension. No need for this kind of comment on here. Yes. I agree with you. I was backing up what nrb was saying and that gesman was wrong. One effect is reduced diversity.
- stcredzero 8y agoYes you're right. It's my reading comprehension error. I reacted to your comment as: "hellllllooo I think the point is that tax isn't driving an exodus of businesses/entrepreneurs as OP suggested. The opposite is true and it's driving out lower income people." Which would sound pretty awful and condescending in context. (I imagined the voice of Miss Martian saying this.) However, that's your username, not a part of your comment.
- hellllllllooo 8y agoHaha no worries. Enjoy your day.
- jeffbax 8y agoWhat do you think is going to happen when significant portions of the poor and middle class leave? Fewer people to pay for California's absurd public sector pensions and expensive government services -> higher taxes on the people remaining.
- dmode 8y agoCalifornia is punishing so much, that actual tax revenue, VC funding, GDP, job, salaries are growing exponentially faster than other states. https://www.pwc.com/us/en/industries/technology/moneytree/explorer.html#/type=quarter&category=Sector¤tQ=Q4%202018&qRangeStart=Q4%202013&qRangeEnd=Q4%202018&chartType=bar https://www.pwc.com/us/en/industries/technology/moneytree/ex...
- nkkollaw 8y ago*its