Why are job creators leaving the liberal utopia California?
From small businessmen in San Diego to vintners in Napa Valley, wealthy Californians reeling from a new state income tax are preparing to pack up and bail out. "If you have excessive regulations and excessive tax, that's just not where you want to be," said Peter Farrell, president of ResMed a medical-device maker in San Diego that employs 600 workers and is considering moving its offices out of state. "California is unfriendly. It's become an unfriendly business environment." One possibility is Texas, where the personal income-tax rate is zero, compared to 13.3 percent for top California earners. Another San Diego-based company, Fallbrook Technologies, a maker of variable speed transmissions, recently announced it is leaving for Texas. Nevada tax accountant George Ashley said he's received more than 100 inquiries from higher-earning Californians about the possible tax advantages and feasibility of relocating to a state with lower taxes. "We have had a 10-fold increase from various parts of California, particularly Los Angeles and the Bay Area where many people are seeking a way to leave the state," said Ashley, who lives just over the California state line in Lake Tahoe, Nev.. "They are fed up with the situation and they feel like they are being unfairly treated." The proposed exodus is the result of Proposition 30, a tax-increase proposal by Democratic Gov. Jerry Brown that residents voted into law in November Read more: http://www.foxnews.com/politics/2013/01/23/california-residents-businesses-consider-bailing-on-golden-state-over-taxes/#ixzz2IotN5UKG
Asked By: yes we can - 1/23/2013
Best Answer - Chosen by Asker
Some are, some aren't. A lot of people like living in California.
Answered By: Max Hoopla - 1/23/2013
Additional Answers (7)
California is taxing itself into bankruptcy.
Answered By: Edward - 1/23/2013
I've been hearing about this for 4 years from cons... yet... apparently... there are still jobs in California and still unemployed in Texas?
Answered By: Dawn of the Zombie g - 1/23/2013
Achoooo - BS & LIES make me sneeze - another CALIF hater ( surprise .. LOL ) ... FOX news as a " Source of truth or facts " as tho FOX news is any better or more truthful than MSNBC, BBC... etc. ROFL sadly I don't have to wonder what's wrong in America, with Life or Voters... in America... More
Answered By: River - 1/23/2013
nice Fox News source.
Answered By: Liberal & Proud! - 1/23/2013
california is the world's 7th largest economy. something tells me that they do the majority of their business in california.
Answered By: Apo Piso - 1/23/2013
California is not liberal when it comes to sentencing (3 strike law failure... More
Answered By: blu - 1/23/2013
Wow! A "10 fold increase" from 10 to 100 of people "making inquires." That sure proves . . . something. And I wonder how those vintners are going to move the Napa Valley to Texas... More
Answered By: John S - 1/23/2013
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