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"pure nonsense", like ducks
"pure nonsense", like ducks
Exactly, I can only speak about Cali and its very expensive, if you had a 250k house now its around 800k, but at the same time you have more taxes and everything.
Those ing liberal rich guys went there to buy everything and make it pricier so now people must go to other states to have a decent life.
@ Laffer... still butthurt his 'Laffer curve' is a bunch of baloney...
Not really true, tbh... your per-capita income is also much higher in those cities, provided you have a job...
And obviously, what most people do near those cities is live in the suburbs and commute to work (ie: tons of people living in NJ, but crossing to NY to work).
Then again, housing prices have a lot to do with demand, and metropolis are always expensive...
The article, however, is misguided in that there's really no evidence that taxes drive migration...
As a matter of fact, this whole California or NY mass migration canard has been repeated forever, but hasn't actually happened. Population on both cities has steadily increased.
Sure, it is much higher but places like San Francisco are so damn expensive and according to my brother in law it didnt use to be like that by a long mile.
Population has increased and they are mostly wealthy people, but if you are not in that category things are not so nice, so yeah while some people move to lets say Texas, Arizona or other places lots of other people go to Cali.
So yeah, I cant say 800k people is a credible number but because of that rich-poor wealth gap some people go to other states to try luck, and if they stay in Cali they must relocate to a cheaper place.
The argument on the article is that 800k rich people will move out due to reduced state tax deductions, so nothing to do with rich-poor gap, etc.
Your argument about the wealth gap is much more sound, actually.
But that's normally what happens when a city becomes successful, and that makes property prices rise, make otherwise non-rich people rich, then more people want to come in and get rich too, etc...
When people have more money, they get taxed more, it's the common and usual cycle of successful cities.
Heck, weather probably has much more impact on migration than taxes. Tons of old people retire to Florida, or do the Winter Texan thing...
Then again, this is the guy that had one of his cronies write articles on how Kansas was going to experience a boon due to tax cuts, an experiment that we now know was a major failure, so his hits and misses are well know, IMO.
And those are valid points, dont really know about the writer so I can only speak about my brother in law and wealth gaps, speaking of weather San Francisco should be cheaper because of that stupid fog.
Anyway, if that writer says Green Fathead Forbes Gasol and Murray died in a plane crash, I would take it as a 100% fact.
You can say that too, I would buy
... say conservative economists Arthur Laffer and Stephen Moore said in an op-ed in the Wall Street Journal.
Sure.
I can attest just based on what I hear and the numbers we receive at our CoC and NFIB meetings. I've stated this before, according to the NFIB, California's wages have made it nearly untenable to build and grow a business that needs actual employees. Over the last X amount of time (I can't state with accuracy as it alludes me right now) 25,000 businesses with anywhere from 10-100 employees have left the state.
They didn't close shop, they relocated out of state to NV, AZ, NV, ID (that's where we've shifted the majority of our workforce) and gave those jobs to citizens of those states. Even if all are on the low end of 10 employees, that's 250k lost jobs in this state. That's just bad, you throw in the rising homeless problem here, the drug epidemic and the huge class gap and I can believe it happening.
Well, again, the article in the OP has nothing to do with that. The concept has to do with the reduced amount of deductions wealthy people can make in those states (with the consideration that taxes in those states is relatively high).
I would actually argue the opposite is true: people that can't afford to live in the state move out, but, at the same time, the states still have such large economies where certain companies do prosper and expand, hiring, etc, making up for the difference and then some (which would explain why both of those states have seen population increases year over year for decades).
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