Thread: Are the rich fleeing California?

Are the rich fleeing California?

May 10th, 2010, 1:00 am
Mary Ann Milbourn

Conventional wisdom has it that if California raises taxes on the rich, they'll flee the state, but the folks at the California Budget Project say that is simply "urban legend."

The Budget Project analyzed moving patterns among rich people. It found that in the 1990s, when 10% and 11% tax income tax rates were in effect for joint filers with taxable incomes over $200,000 and for single filers over $100,000, the number of people subject to those rates rose substantially.

From 1991-1995 — during a recession — the Budget Project says the number of high income joint filers rose 33.4% and single filers rocketed 40.2%. Meanwhile, the total number of joint returns declined 6.7% and 7.3% respectively.

The Budget Project said similar patterns occurred after 2004, when Prop. 63 passed. The measure added 1% to the income tax rates on personal incomes over $1 million.

In addition, the Budget Project cited IRS data that show that taxpayers who stay in California have higher average incomes than those who leave.

The California Budget Project is a non-profit that works to improve public policies that affect low- and middle-income Californians through independent research, budget and policy analysis, and public education.

So if they all flee, who will they sell their multi-million dollar properties to?

I cannot imagine all of those huge homes perched precariously on seismically active hillsides (ahh...the intelligence of that) and on privately owned beaches (NO its my private beach, you can't touch it.....sorry, that's an Oregonians sarcasm over non-public waterway ownership in other states), sitting empty, or being occupied by about 100 or so illegal aliens !!!!

Originally Posted by AmericanElizabeth

So if they all flee, who will they sell their multi-million dollar properties to?

The article says the rich are NOT leaving California.

Conventional wisdom has it that if California raises taxes on the rich, they'll flee the state, but the folks at the California Budget Project say that is simply "urban legend."

IRS data that show that taxpayers who stay in California have higher average incomes than those who leave.

Originally Posted by JohnDoe2

Originally Posted by AmericanElizabeth

So if they all flee, who will they sell their multi-million dollar properties to?

The article says they rich are NOT leaving California.

Conventional wisdom has it that if California raises taxes on the rich, they'll flee the state, but the folks at the California Budget Project say that is simply "urban legend."

[quote:2wvtpgqm]IRS data that show that taxpayers who stay in California have higher average incomes than those who leave.

[/quote:2wvtpgqm]

Rich doesn't necessarily equate to intelligent
The article might suggest that the SMART ones are leaving California.

Originally Posted by TexasBorn

Rich doesn't necessarily equate to intelligent

I would think that it would be easier to get rich if you were smarter than a rock.
That might be why I'm not rich.

My brain saw that they WERE leaving, ok.

Rich doesn't necessarily equate to intelligent

Some of the most intelligent people I have know were undereducated. Seems so many these days, with higher levels of education, have ZERO common sense, and no idea how to make things work, or to survive if things went downhill. I think those ones would be the first to go....Of course that seems to mainly be the liberals with heavy educations behind them.

My teen son works in an in-town feed store (many have chickens there) and most are the ultra liberal types. They will come in and ask for chicken feed with no corn or soy...... He will tell them "they're chickens, they need the protein or they will cannibalize each other" (the flock will find a mouse in their midst, kill it and eat it) to which these people will insist they do not need the corn or soy in their feed and the chickens will not start to peck at each other. This is an example of some of the things said or asked that show how little common sense these people have.

Others will want to buy cat food that is vegan.....(cats are carnivores).

Originally Posted by AmericanElizabeth

My brain saw that they WERE leaving, ok.

Rich doesn't necessarily equate to intelligent

Some of the most intelligent people I have know were undereducated. Seems so many these days, with higher levels of education, have ZERO common sense, and no idea how to make things work, or to survive if things went downhill. I think those ones would be the first to go....Of course that seems to mainly be the liberals with heavy educations behind them.

My teen son works in an in-town feed store (many have chickens there) and most are the ultra liberal types. They will come in and ask for chicken feed with no corn or soy...... He will tell them "they're chickens, they need the protein or they will cannibalize each other" (the flock will find a mouse in their midst, kill it and eat it) to which these people will insist they do not need the corn or soy in their feed and the chickens will not start to peck at each other. This is an example of some of the things said or asked that show how little common sense these people have.

Others will want to buy cat food that is vegan.....(cats are carnivores).

I agree AE. Seems that common sense has flown the coop in California and those that still have common sense are fleeing California! I know I did after living there a short time!

I've been in San Diego for 30 years, CA. for 40 years and see no reason to leave.
I've been to most of the country and I can live anyplace in the country I want
and have no desire to live anywhere other than San Diego.

I was born and raised in California. Worked and raised my children here. Do I like what has happened in California? No. Should I give up and leave or stay and fight? As I see it, The way California goes, so goes the rest of America. And truth be told I still love California with all it's worts.

Oh no, fight like you-know-what for California, it is OURS, not Mexicos.

We have gotten all of the ultra lib, eco friendly, over-educated nitwits from California up here, looking for a more "sustainable" lifestyle (we all gag a little when we have to repeat that!!LOL). They take htings over and think they know everything, the bellyache and whine when we have logging going on, they get up in arms over field burning, and talk all about taking the dams down to free up the rivers for the wild salmon, as well as having hissy fits over Fish and Wildlife shooting sea lions that have bellied up to the dams to feast on the fish trying to make it up stream....

One local officer was out here, and I was talking to him, and something in the conversation was referenced to one of their groups possibly helping with a local matter, and he rolled his eyes and said "no, they won't that is one of those liberfreaks groups, they won't do anything unless you are a salmon or sea lion"!