California's progressive tax is a massive failure!

www.illinoispolicy.org...

Surprise Surprise, you tax the rich they leave. Sounds too simple, because it is.

They will take their money, their businesses, their innovation with them. They will even drag along some upper middle class people.
Then where will the money come from?

It doesn't matter if we show this REAL world scenario to people 100X or 1000X some people just can't understand that people that work hard,
are smart, are financially literate would like to keep their own money. They will always figure out a way to do that. They will always be the ones with the ability to do it.

This entire article is a warning to Illinois (and other similar states), but we all know they won't listen. They will follow right in Cali's footsteps and the outcome will actually be worse.

Here are the main findings of the new study: The negative economic effects of the tax hike wiped out nearly half of the expected additional tax revenue. Among top-bracket California taxpayers, outward migration and behavioral responses by stayers together eroded 45% of the additional tax revenues from the tax hike. The “temporary” income tax hike, which has now been extended through 2030, made it about 40% more likely wealthy residents would move out of California, primarily to states without income taxes.

For those that want to bring up Bezos etc. I think we all know that is a separate issue about monopolies and businesses.
The problem is that people don't want to actually look the real problem in the face because it is hard

Homelessness can not be solved without looking at the drug problem
Consumer debt can not be solved without looking at irresponsible spending habits
College debt can not be looked at without looking at students (and their parents) and how the college experience has changed in the last 20 years. Here's a hint, it's not all about tuition cost!

a reply to: JAGStorm

Socialism is why blue states are the richest states.

Over a trillion in debt.
Rolling blackouts.
Tens of thousands of homeless living in tent shelters.

Yep, checks out.

originally posted by: dfnj2015
a reply to: JAGStorm

Socialism is why blue states are the richest states.

Socialism corruption is why blue states are the richest states.

And I'm not even a republican. However I'd be a mentalist if I couldn't come to admit that the blue states are the most corrupt and bankrupt... This denial would be akin to trumpsters making, Donald no-testify Trump, out to be a Saint

a reply to: dfnj2015

And why the population is the poorest

a reply to: dfnj2015

what utter bollox - thats the polite version

it is not politics that makes say NY richer than say south dakota

if you cannot figure out the correct reasons

you is unfit to be left unsupervised

a reply to: dfnj2015

Socialism is supposed to make the people equal. If socialism made the state rich but the people are suffering either you are doing it wrong or it doesn't work.

a reply to: dfnj2015

Or they rely on the import industry which is why they despise America first. Califprnia has become wealthy on our acceptance of selling off to the chinese.

originally posted by: dfnj2015
a reply to: JAGStorm

Socialism is why blue states are the richest states.

Lol, when a User self destructs his credibility, nice 👌

originally posted by: Vroomfondel
a reply to: dfnj2015

Socialism is supposed to make the people equal. If socialism made the state rich but the people are suffering either you are doing it wrong or it doesn't work.

Notice at the top of every socialist country is a very plump well dressed person. So much for equality!

originally posted by: JAGStorm

originally posted by: Vroomfondel
a reply to: dfnj2015

Socialism is supposed to make the people equal. If socialism made the state rich but the people are suffering either you are doing it wrong or it doesn't work.

Notice at the top of every socialist country is a very plump well dressed person. So much for equality!

Lol, hey what's that to say about the everyday plump, well dressed folk???

originally posted by: JAGStorm
www.illinoispolicy.org...

Surprise Surprise, you tax the rich they leave. Sounds too simple, because it is.

They will take their money, their businesses, their innovation with them. They will even drag along some upper middle class people.
Then where will the money come from?

It doesn't matter if we show this REAL world scenario to people 100X or 1000X some people just can't understand that people that work hard,
are smart, are financially literate would like to keep their own money. They will always figure out a way to do that. They will always be the ones with the ability to do it.

This entire article is a warning to Illinois (and other similar states), but we all know they won't listen. They will follow right in Cali's footsteps and the outcome will actually be worse.

Here are the main findings of the new study: The negative economic effects of the tax hike wiped out nearly half of the expected additional tax revenue. Among top-bracket California taxpayers, outward migration and behavioral responses by stayers together eroded 45% of the additional tax revenues from the tax hike. The “temporary” income tax hike, which has now been extended through 2030, made it about 40% more likely wealthy residents would move out of California, primarily to states without income taxes.

For those that want to bring up Bezos etc. I think we all know that is a separate issue about monopolies and businesses.
The problem is that people don't want to actually look the real problem in the face because it is hard

Homelessness can not be solved without looking at the drug problem
Consumer debt can not be solved without looking at irresponsible spending habits
College debt can not be looked at without looking at students (and their parents) and how the college experience has changed in the last 20 years. Here's a hint, it's not all about tuition cost!

As Connecticut and New Jersey how high income taxes on the rich are working out.... all of their uber rich financiers are moving to Florida.

originally posted by: dfnj2015
a reply to: JAGStorm

Socialism is why blue states are the richest states.

Rotflmao!!!! Stop it, you're killing me!!!

a reply to: JAGStorm
I live in Southern illinois. There are people here who have been trying to separate Chicago/Cooke County from Illinois for years for this very reason. It'll never happen, but I applaud them for trying. We have to rid ourselves of the scum in the state capital before anything else gets done.

originally posted by: Klassified
a reply to: JAGStorm
I live in Southern illinois. There are people here who have been trying to separate Chicago/Cooke County from Illinois for years for this very reason. It'll never happen, but I applaud them for trying. We have to rid ourselves of the scum in the state capital before anything else gets done.

Almost everyone in my circle has left Illinois in the last 15 years. Not a single person has regretted that decision. I do feel bad for family/friend that couldn't or choose not to move. They are all suffering now.

a reply to: dfnj2015

Implementing socialism to make people equal will never work - Those who have a drive to succeed will not want to be equal. Just as much as those who are already ahead by hard work, will not want to be brought down to the same level as Joe who sits on his ass all day and does nothing but protest his life away.

Equal men are not free and free men are not equal.


I'm glad the hard workers and millionaires are leaving that cancer state - Show them how the real world works once they run out of "free money" that they steal from the rich and eventually default to taking from the midde class and poor again.

a reply to: Edumakated

Incoming income tax for FL. I think the only state that is semi-safe at the moment is TN, and that's due to a lack of infrastructure and schooling for high tech businesses.

Edit: I'm moving from NC to SC, but the difference in property tax rates vs income tax rates more than makes up the difference.

originally posted by: Hypntick
a reply to: Edumakated

Incoming income tax for FL. I think the only state that is semi-safe at the moment is TN, and that's due to a lack of infrastructure and schooling for high tech businesses.

Edit: I'm moving from NC to SC, but the difference in property tax rates vs income tax rates more than makes up the difference.

Some Florida natives are moving to TN because of the huge influx of people. There has always been migration to Fl, but it's growing to an unsustainable rate. They are already building on lot's that really shouldn't be built on.

TN is booming.

originally posted by: JAGStorm

originally posted by: Hypntick
a reply to: Edumakated

Incoming income tax for FL. I think the only state that is semi-safe at the moment is TN, and that's due to a lack of infrastructure and schooling for high tech businesses.

Edit: I'm moving from NC to SC, but the difference in property tax rates vs income tax rates more than makes up the difference.

Some Florida natives are moving to TN because of the huge influx of people. There has always been migration to Fl, but it's growing to an unsustainable rate. They are already building on lot's that really shouldn't be built on.

As someone who grew up there and left Overcooked Pancake State USA, I gotta point out there's a little more to it than just excessive growth. The fellow "refugees" we've bumped into up here in MI cited the same things we did as reasons for leaving -- the high CoL that's been high far longer than the current transplant influx has been going on, the poor paying jobs that have been poor paying for so long that there's no way to logically blame the transplants, and an all-around lousy climate that is so overrated that we point and laugh hysterically at anyone who moves there for it.