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In Reply to: RE: It's funny - for months, I was seeing all these articles and videos. . . posted by Chris from Lafayette on February 16, 2021 at 13:40:43
about all these people leaving California to move to Texas
That trend of fleeing high taxation continues.
the hospitals and clinics can't keep the freezers cold enough for the Pfizer Covid vaccine storage
While the Pfizer flavor requires cryo long term storage, Moderna does not. They could leave it outside right now. ;)
Follow Ups:
So. . . what are the property taxes like in Texas?
Oh wait - I just found it: Texas, 3rd highest; California 32nd highest. ;-)
Using your table, let's quantify the difference in average real estate: $3617-$2922=$695.
Now, lets look at the primary factor for why the wealthy are leaving: state income tax.
For someone earning $250,000 (which really isn't that wealthy), the amounts would be:
CA-$20,378
TX-$0
Don't know about you, but I know which total I would prefer. ;)
Speak for yourself E-Stat - my highest earning year ever was about half of that. Even together with Ms. CfL, we never broke $190,000. Moreover, there are various CA deductions which lower what you pay below the nominal rate.
my highest earning year ever was about half of that.
Same for me as I am not a one percenter either. I refer to the category of earnings most referenced in the news articles.
Can you point to reputable studies showing that in fact the primary reason for people leaving California is taxes? Except for 4 years when I was a kid (lived in a suburb of Cleveland) I've spent my whole life living in the East Coast. I'd never move to California, but not due to taxes. Earthquakes, fires, floods, mudslides are enough to dissuade me.
Edits: 02/17/21
and doesn't require much time to locate multiple sources. Here's one from UC Berkeley .
"The high cost of housing (71%) is the most common reason givenby voters for wanting to leave California. However, hightaxes (58%) and the state's political culture (46%) are also prominently mentioned,particularly by Republicans and conservatives."
And another from Hoover :
"The reason? Economics, plain and simple. California is too expensive, and its taxes and regulations are too high. The Tax Foundation ranks California 48th in terms of business climate. California is also ranked 48th in terms of regulatory burdens. And California's cost of living is 50 percent higher than the national average."
Nice places to visit periodically, but...
he's been trying to build a small shed and put some solar panels in for his house somewhere in LA. Maher has been talking how absurd the regulations are in Cal. and has been displaying on his show about how long its taking to get approval for his solar. As of last Friday its been 1089 days and he still does not have permission to install his solar. He showed a pic of a small shed on his property that took 3 years to get approved. Apparently amazingly stupid shit goes on in Cal.
Edits: 02/17/21
I didn't have any delays due to regulations when I had solar panels put on our house, nor do I know anybody who did. The whole process was very smooth in fact. OTOH, I don't doubt that old entitled Bill may have had some trouble with approvals.
nt
Not surprised by his experience.
Not to mention that California is reported to be the 5th largest economy in the world, if it is compared to countries. And, not to forget, like 40,000,000 people reside in California. Oh, it is reported that California produces 13% of the nations agricultural receipts. It's a brutal 53 degrees F where I'm at near SF, so nothing's perfect.
I love the smell of Schadenfreude in the morning- Robert Seckler
your cheerleading isn't working for hundreds of thousands.
...first time I toured Texas I was surprised to find just about every major municipality had their own local tax surcharge on top of the state tax. Today it looks like the avg overall TX sales tax rate is ~ 8%.
Actually, I did consider that. CA is 1% higher with a broader increase depending upon local taxes.
I omitted that since income tax alone soundly answers the question why folks are leaving. ;)
Avg CA sales tax seems to be about 8.4% so overall tax rates don't favor CA if raw tax rates are a major input when deciding where to live. But I'd also consider what one gets for those taxes as well as other intangible factors like "quality of life". Not an easy calculation.
In the final analysis, however, people and companies are leaving for a variety of reasons.
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