CPR: According to new research released by Charles Varner, associate director of the Stanford Center on Poverty and Inequality, California lost an estimated 138 high-income individuals following passage of the Proposition 30 income tax increase championed by Gov. Jerry Brown (D) and approved by Golden State voters in 2012.
This new research by Varner updates a previous paper released six years ago that looked at domestic migration to and from California following a 2004 income tax hike.
“One reason we wanted to update our previous paper is that this tax change in 2012 is the largest state tax change that we have seen in the U.S. for the last three decades,” Varner said.
Prop. 30 raised the state’s top income tax rate by more than 29%, increasing it three percentage points from 10.3% to 13.3%, which is now the highest state income tax rate in the nation. Prop. 30 also hiked the tax rate on income between $300,000 and $500,000 by two percentage points (a 21.5% rate increase), and raised the rate on income between $500,000 and $1,000,000 by three percentage points (a more than 32% rate hike).
In 2016, California voters extended the Prop. 30 income tax increases, which were originally scheduled to expire in 2019, until 2030. There will be an effort to extend those income tax hikes yet again prior to their expiration in 2030; book it now. more here
Yeah, the fucking assholes will run away to other states and support the same kind of shitbag democrats that ruined California. Just watch. They’ve done it in these states so far…
Oregon
Washington
Colorado
New Mexico
Nevada
Soon to do to the following states:
Idaho
Texas
Utah
Democrats are a goddamn fungus.
As a Californian, I’m telling you straight up, those are the Libtards that wrecked this state. And now they’re leaving so they can “Fix” your state. You’ve been warned.
New Jersey is actually #1 in taxed residents.
Today in New Jersey the news is that they want to tax water usage.
Everyone I know in this state is planning their exit after their last kid goes off to college. And no one is sending them to Rutgers, our state school, because either the in-state tuition is too high and they can do better elsewhere or that they don’t want to be in-state an additional 4-years in order to get the state tuition. In other words, it’s more economical to send your child to another school than to stay in state with 3 children and send them to our state school.
Anyone leaving California could be a “millionaire” if they sold a house they paid more than $100k for 10 or more years ago. And now they are all heading up here, and over-inflating OUR real estate prices! And further screwing up our already screwed up politics.
Tony R
Yea, I’m one of those people. The article is understating who’s leaving. There’s a lot of millionaires in Cali do to real estate. These ass holes are multi millionaires. I’m not lying.
The locusts from NY and NJ are doing the same thing to the Carolinas and Georgia. They can’t figure out that they left high tax states for a reason. They are determined to inflict the same pain on their new grounds.
The influx of job seekers to the quad
county Houston metro area has driven my
humble chicken shack from 100k to 180k
in 2 years.They are widening I-45,quarter
mile from my house from 3 to 5 lanes all the
way to the Galveston Island Causeway.
Keep the Hollyweirds in Kalifornication. The rest of the country doesn’t need their infestation.
And who are these 138 millionaires that are leaving the Tarnished Brass State? Need to know by name so the rest of the country can keep track of their doings.
Meerkat – That’s me. As soon as the kids are out of college me and the Mrs are outta here too. They are looking at taxing everything. One idiot has already proposed a tax on miles driven since the fuel tax increase of .23/gallon hasn’d done squat. Just like they were told.
Oh and Rutgers is out too!
Cal has lost hundreds of thousands of working folk the last 18 years. These folk are so small compared to the big emigration of workers that to call them “a drop in the bucket” would be overstatement.
Arnie was a conservative for 1 year. One (of many)of the big conservative things he did was cut Workers’s Comp taxin half! This made a 2 year change in workers again coming to Cal! He quickly became a lefty and Workers Comp tax is back where it was in ’02. employers can’t afford workers – not just the entertainers making 8 digits but regular workers making $25,000!
Can we tax ourselves into prosperity and equality? The democRATS seem to think so. It sure worked in the USSR.
RADIOATIONMAN/CB/HAM/AM/FM/SSB/VHF – TXCOT was widening I-45 in 1973 when I first came up here. They have been working on it ever since and will continue to do so long after I am dead and gone. Its a perpetual contract. West of the loop I-10 is now 24 lanes wide and still deadlocked during rush hours. Don’t look for a great amount of improvement.