Why Are So Many People Moving Out Of California?
by Michael Snyder
TheEconomicCollapseBlog.com
5/19/2018
In recent years, the number of people moving away from the state of California has greatly outnumbered the number of people moving into the state. Reasons for the mass exodus include rising crime, the worst traffic in the western world, a growing homelessness epidemic, wildfires, earthquakes and crazy politicians that do some of the stupidest things imaginable. But for most families, the decision to leave California comes down to one basic factor…
Money.
For a lot of Californians, it simply does not make economic sense to remain in the state any longer. So over the past decade approximately 5 million people have picked up and moved to another state, and many believe that this trend is going to accelerate if California does not start doing things differently. The following is from an excellent article by Kristin Tate, the author of a new book entitled “How Do I Tax Thee?: A Field Guide to the Great American Rip-Off“…
The largest socioeconomic segment moving from California is the upper-middle class. The state is home to some of the most burdensome taxes and regulations in the nation. Meanwhile, its social engineering — from green energy to wealth redistribution — have made many working families poorer. As California begins its long decline, the influx outward is picking up in earnest.
I don’t know anyone that enjoys being taxed at extremely high levels, and in California extracting more and more revenue from the citizens has become an art form. California’s highest marginal tax rate is now a whopping 13.3 percent, and on average taxpayers are hit with a 9.3 percent rate…
Taxes also are much lower in Arizona than California. California residents pay nearly twice as much in state income taxes. The individual income tax rate is 4.54 percent in Arizona. It’s 9.3 percent in California, according to the Arizona Sun Corridor.
The Rest…HERE
