Grave concerns as California faces high-income earner exodus
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- Опубліковано 27 гру 2023
- Grave concerns for the US golden state of California as it faces an apparent exodus of high-income earners.
Texas, Arizona, Florida and Nevada have all become popular relocation sites as residents look to escape a 13.3 per cent income tax.
Analysts have expressed their worries as just under half of the state's total tax intake is sourced from high-income earners.
In three years, California has witnessed over 750,000 residents be lost to other states.
The state of California depends on its wealthy citizens for 45 per cent of its tax revenue and now claims to be facing a $68 billion deficit.
Democrats: "No problem. We'll just raise taxes on everyone staying."
This making more people leave, if they can afford to move.
in relation to those in exodus. The more exodus the more they will inc the taxes on the one staying....very brilliant idea Gavin
@@PestiLencE638 Yep, it's like a high stakes game of musical chairs. California is turning into a communist paradise. A tiny group of elites (politicians, big tech owners) who are above the law, an army of poor, homeless, drug addicts and illegals, but with no middle class. Any middle class resident silly enough to stay till the final act deserves what's coming.
Those people don’t pay taxes :
Drug dealers
Criminals
People on welfare
Those people still live in California.
Thats a good idea if they can afford 18 dollar big mac's and pay 20 buck an hour more pay more taxes.
It's not just the high taxes - it's the attitude that says "be glad we don't take it all".
Really, they have been saying, " Be glad we don't take it all"
@@kenshippey5098 ya, it comes in the form of a lie of course, if they told you the truth, then the middle class would be leaving too
So true
🎯
vote soak the rich... where could they go as good as california....
Newsom killed the goose that laid the golden eggs.
Its not Entirely Newsom's fault, pretty sure it was the democrats as a whole in California who destroyed California. Its what democrats do, name any state or city run by democrats that's doing good, don't worry you won't find one.
No, he's fattening the goose that is laying golden eggs for HIM and his ilk. The rest of you in the middle don't count.
Got out last month. What the loonies are doing to California is an absolute crime.
Don’t vote Democrat.
California is becoming a3rd world country
What state are you in now?
Former 40+ year, born and raised, resident of California here. We left three ago and don't regret our decision one single solitary bit. A couple of points this short segment didn't mention.
It's not just millionaires who have left, plenty of average people left, too. We're talking hundreds of thousands of people over the last few years. And it's not the free handouts people that have left. We're talking billions of dollars of annual taxable income that has left the state.
The other thing that most news organizations are missing is this: yes, California is in debt by $68 Billion, BUT, California also has $1 TRILLION in unfunded liabilities. We're talking pensions and healthcare that aren't funded for the people that worked for decades for the state. And now, this whackadoodle state is going to give free s e x changes to illegal aliens at taxpayer cost. You cannot make this stuff up! California is THE punchline now. Goodbye and good riddance!
You voted for the loonies
Allow crime to go unchecked and increase taxes, what do you expect.
When the politicians act like criminals they have to be lite on crime.
California is NOT facing a high-income earner exodus.
@@lamontcranston3177 checked out the States Economic Stats, maybe you should also, might learn something.
@@lamontcranston3177did you just not watch the video wtf
@@Dk_Velosure, if it's on the internet, it must be true. This channel, along with "forbes breaking news" are just right wing tabloid channels.
Golly gee who'd have thought wealthy people would move away from high taxes. Total shock and amazement.
They voted themselves out of the state.
Hopefully they leave their voting habits behind
@@mhaas281 that would require them to understand that the policies they supported led to this situation.
Don't think they have left because of high taxes but they left because their taxes has done nothing for the quality of life but line the pockets of shady politicians.
Whether you're rich or poor, everybody is cheap and nobody likes paying taxes.
I have lived in California for 60 years of my life and I have finally made a decision to leave. There’s no way I could afford to live in California when my taxes have pretty much everything I make and then you throw in healthcare on top of that it just doesn’t work for me anymore. My family and I were checking out.
You better hurry up
Left 10 years ago, today, after sixty years and Loving life again...
Good move ! I lived there 57 years, left 12 years ago ! I'm glad I did.
was there from 1947, as a baby until 2014, retired, and lovin life now...
Move before Gavin signs exit tax..
My family’s business of almost 40 years was destroyed by California’s response to Covid. We’re outa here this spring
You mean due to GAVIN NEWSCUM!!!
that maybe too late, but I will pray you make it...left in 2014....
We left for Idaho in 2022. Wagons East is the new and justifiable mantra.
crazy how Australia covers california more honestly than us media. thank u
Yeah. I have been watching Aussie news since 2018 because American MSM were making news up to support the democrat party, while banning and telling lies about Trump and Republican conservatives.
But we have the same problem, the government is out of control.
They might as well. American media is either bought and paid for to the point of no return to impartial facts or are totally disconnected.
How do you know
People leave California because of crime not taxes
N.Y and Chicago are losing many citizens too.
Margaret Thatcher said, Socialism works well until you run out of other people's money.
Chicagos getting freshly new illegals.
@@chris_cashflow666Out go the taxpayers,
In come the tax recipients
So is Denver. @@chris_cashflow666
@@chris_cashflow666that’s what I was thinking.
Moved to California in 64 and it was great. Beaches, mountains, orange groves and IN-N-OUT. How could anyone possibly screw that up? Left in 89 with sirens and gunfire a nightly occurance. I can't even imagine how terrible it is now.😥
Where did you leave to?
In-n-out didn't have much of a footprint in 1964, but I get your point.
@@Peter-wp5vb Utah and love it.
@@itjustlookslikethis lived near the first IN-N-OUT in Baldwin Park in 64. Just a plywood shack with a drive through. A burger was 30 cents.😀
In-n-out began in 1948
Imagine paying the majority of the states taxes for your entire life and then being told you still have to be taxes on the money you put away for retirement and already paid taxes on. I would leave as well.
Yes, and then move that 401k to another state if it isn't already in one.
California: “We’re gonna tax the rich to support our crazy policies!”
Rich people: Cya.
Wife and I owned a business there and lived there our whole lives. People aren’t leaving because of taxes. They are leaving Newsom and all his cronies. Crime is insane throughout the entire state. He destroyed the state on purpose but I don’t think he thought the 1% would leave. He just wanted the middle class to leave. He wants the elite and the Mexican laborers
Forgot to mention we left, we are making half the money where we are now. Best decision of our lives. I’d rather be poor and free than rich and a slave.
Didn't Cuomo beg the rich not to leave NYC a few years back? I'd like to see a lot of these liberal utopias humbled.
The smelly rapist Orange Turd added trillions to the US debt and gave $1 trillion in tax cuts to the top 1% money earners. So tell us, Yank how much of that $1 trillion did you get? NOTHING! Sad.
But hey, Mexico paid for the wall and you still have Trump healthcare! Right? No!
USA USA LMFAO!!
Your recommendation would be to tax the poor, what a dope
Hardly surprising with Governor Newsom at the helm.
Govenor for life! Or until nobody (legal citizen) is left in California!
Mr. scantuary (we will No longer work with the Fed. to turn over ILLEGAL BORDER CROSERS )
But at least he has no mugshot
Comrade Newsom
@@richardmesser1091
He should
68 Billion in the red and at what point it the Tax & Spend policy flawed??? We have to balance our personal finances why shouldn't the gov't?
Governor Newsom needs to go, pray for his removal, Californians and America
They will just vote in another socialist democrat that might even be worse.
Who would have thought that if you punish citizens for working that they would leave?
lol fukin a!
Is not the working class though, is the 1% that are leaving. Did you even watch the video?
@@adrenalinemadness3340 The vid only mentions the rich. Doesn't indicate they're they only one's leaving and yeah, broke folks who can't afford to be dipshit snobs are leaving too. :)
They are not only guilty of working, they are also guilty of being successful. Pure evil
@@adrenalinemadness3340 Having a couple million is not the 1%
You usually get what you vote for. Specially when Gavin Newsom is invovled.
Sometimes you get what nobody voted for, hence why Brandon is currently squatting in the White House.
@@richardlafleur8389 it will be much worse if nuisance
ever takes over squatting in the wh . LoL 😱
@@richardlafleur8389filling his diaper.
@@joesmith1574 Comment of the day!!!! 😂😂🤣🤣👍👍👍
Somebody decided to throw her under the bus.. left or right the media is making a big deal about it which is stupid… Because if she was smart, she would’ve answered the question completely. The Civil War wasn’t really about slaves about the states having power to do what they wanted to do look it up. You may have to go to your Encyclopaedia Britannica at your grandmas house but that’s what it was about….
Well, they’re not concerned enough to protect business owners from the thieves that they loosed with the proposition. They passed horrible new legislation that ruins business and so many other sectors of society. They are not concerned enough about people moving out to cut taxes! They are not concerned enough to help the seniors not have to pay fortunes in income tax. Native Californians
in the state like myself, people who were educated here, We are Folks who worked here our entire careers and now they don’t do a thing to help us stay here. I am most aggravated about that. They are running us out on purpose. We don’t appreciate it either.
This is BS! 🤔 i remember my parents moved us to Orange county, CA back in 1965. Their 1st house was $17k. My 1st apt out of high school in 1969, was $110, utilities paid. My 1st job at a bank in Buena Park was $2.00 an hour and that was gross not take home yet it paid for everything. What is going on here? Both my grown boys were making 6 digits a year in Irvine and they still couldn't make it so they moved to Texas 😢 Thanks Newsom!
We got out, moved to Florida on the beach, took our high salaries out, saved thousands, dems voted for the destruction of a beautiful state.
God bless Florida
God bless President TRUMP
F California
F Gavin Newsom
PLEASE move back... You unwanteds are ruining Florida, just like you did Oregon, Washington, Colorado, and Nevada.. Not to mention Austin TX.....
Sadly for the people already living in FL, the state became crowded and housing prices spiked by 3x.
Do you miss it? Aside from the polices
Just DO NOT bring the Democrat voting mindset with you and help ruin Florida !!!!!!!!!!!!!!!!!!!
& there's Newsom, I wonder how much of California has to turn into skid row before we realize this disaster of a state is still trying to tell the rest of us how to do National Business & economy? Nice Suit Gavin.
Margaret Thatcher said, Socialism works well until you run out of other people's money.
It doesn't matter, the vote is rigged.
Well Greasy Gruesome NuScum voters are not the brightest, So ....
UK personal tax for £150k earnings 67% (55% income tax, 12% national insurance) I think I should move to Califonia !
It's not just the 13.5% income tax, it's the 8-9% sometimes 10% sales tax, the highest gasoline tax. and all the fees, the sky high vehicle registration, now over $1000 on a new car. Plus the high cost of living, while the quality of life goes down by the day.
and just waaayyyyy too many people
You gotta love how our beloved leaders view us. We’re just dollars and cents to them. It’s really pathetic.
All of YALL voted so all of YALL can take credit
Doesn’t matter what party it is, they don’t care about you.
MAYBE NEWSOME SHOULD'VE STAYED HOME. RATHER THAN TRAVELING TO CHINA & SAVED CALI'S TAXPAYER DOLLARS ???
**** STATE GOVERMENT SPENDING , THOSE. COVID DOLLARS TO CALI. , SPEND. THEN TAX & SPEND MORE & TO THINK THAT S O M E WANT NEWSOME TO BECOME THE PRESIDENT , 1 BAD EXAMPLE FOR LEADERSHIP .
It's how communists view us. Progressives aka communists don't think you're entitled to the fruits of your labor. Gotta share the wealth!
We are well know that they aren’t beloved nor leaders and they don’t care about people .
When you ask about corruption in Ukraine for example, is a one thing . When you realize that our system is completely useless in Democratic states, is sad to say the least .
I have a friend that is incredibly rich….he moved about 4-6 miles into Nevada on Lake Tahoe…saving a massive amount of taxes
Nevada such an amazing libertarian state
Reno is nice
shhhhhhhh do you want to have all those other refugees coming to that State?
@@user-dx6jo1cm9c Too late 60,000 from California already moved to Nevada.
My family been in this state for 80 years almost. The last few years we have been debating to sell our family homes that we built because our kids are making less and less and affordability out here gets worse.
maybe speed things up a bit sounds like some procrastination goin on but you know best
Gavin Newsom needs to resign!!! California is worse and worse.
Ca native here. Also spent 40 years in the capital area. It's horrific what has happened to that state. We left 15 years ago. I'm convinced Newsom is demonic.
I hope others feel the same way. I've seen talk of him being the new poster boy for the Dems party. I know personally I hope he never becomes president just based on what California looks like now.
I escaped CA four years ago. Best move I ever made.
@@donaldsink8115 no winning fixed games
He’s definitely a lizard person. Creepy af
I agree but Californians love Newsom. I have no idea why and they're clearly the dumbest voting bloc on the face of the Earth, but they will vote for him for Governor and probably he will run for president soon
Im trying to leave too. I grew up studied, and work in LA. It’s not worth it. We paid a total of $20k in property, income, vehicle, and supplemental taxes. We are a one income family now since daycare for two is insane. We make too much for assistance, and get taxed like crazy, I am a nurse and not even a doctor. We don’t make a ton of money. It’s not worth it here when migrants can get free health insurance and we pay $600 a month. I can’t wait to get out of here. I just want to finish my master’s and get out. My husband agrees.
You're a nurse and you don't know how health insurance works? Psssst guess who is the trying to reduce health care cost for everyone?
Two mental giants
Will you leave your Liberal ideology behind when you leave? If not, please do not leave.
20k is rookie numbers. If you buy a home in the Bay Area, you are looking at 20k in property taxes alone.
Please, keep your high taxing high crime democrat vote in California. No point in moving to a republican state and turning it into California anyway. Might as well just stay
Moved last summer to AZ ---- 110 degrees for like 2 months in a row here --- still best decision I ever made.
Pour some lemonade and go in the pool --- you'll be ok :-)
They take more from the top 1% - but those people STILL have their Boats , Helicopters, and Multi Million Dollar Homes so it apparently doesn't phase them.
I moved my family out of California in 2019. Best decision I ever made!!
was ten years ago Today, for me, and thanking God for it, and smiling...
I left 20 years ago, so glad I did.
We did in 05, now playing in popular gigging band at Lake resorts in early retirement 😀
@@barneysievers2888 I've been telling family and friends living in Calif. to get out of there ASAP... since 1980. A few actually did, so mission accomplished.
Life-long California residents; my wife and I left three years ago.
Go to one of these 'great States'..??
"States ranked by poverty"
Louisiana 19.6%
(MAGA Mike's!) MAGA finally placed 1st in something
Mississippi: 19.4%
New Mexico: 18.4%
West Virginia: 16.8%
Kentucky: 16.5%
Arkansas: 16.3%
Alabama: 16.1%
Oklahoma: 15.6%
South Carolina: 14.6%
Born and raised in California. I grew up in the 70's and 80's and it was great. I left in the 90's and haven't looked back. Good riddance.
@@tonydenaro6600 Yet people are flocking to those States from the democrat eutopia states. Go figure.
@@billmM3605 If California were a country, its GDP of $3.6 trillion, up from $2.8 trillion in 2022, would make it the 5th richest in the WORLD behind Japan and ahead of India! Its people are paying the taxes for the parasitic RED states !! Go figure!
@@tonydenaro6600
1:34 68 billion dollar deficit is insane. America as a whole had less than that many times but California as one state after detracting its wealthy?
Horrible crime, ridiculous gun control, and crazy high taxes! I wonder why people are leaving. Can’t believe he survived the recall.
Born here. Paid 30k in state taxes last year. I'm outta here.
Go to NEW YORK or Chicago or some other blue state where you will continue to vote Biden clowns in....
I have a nice beach cottage in Lake Worth Beach, Fl. I am going to sell if your interested...close to the beach!
I lived there for 15 years but I grew up somewhere else, so I'm really intrigued by people who were born and grew up there and are now deciding to leave.. Do you worry that you won't be happy in another state like you were in a beautiful place like California? Do you have any hesitations about leaving the only place you've known as home, especially since it was always considered the best place to live up until just recently?
Funny in nearly all places the more you earn the more tax you pay. Move to Tennessee and be unemployed , problem solved
@@KP99born and raised in California, I'm 65 yes old and miss my old California!!
Yes, I do worry about moving to another State!! My Mom is 94 and I can't leave her,but I will leave someday! Tired of paying 35 thousand in taxes every year.😢
Damaged beyond repair, California will never truly recover, those that have left will always have that bitter taste !
CA is majority Central and south American now and you know how badly they screwed up their own countries.
90s bay area was amazing. only good memories for me thank goodness
At the state has lost about 15 million people in the last 10-15 years. Ten thousand business have gone as well. The state has trillion dollars in unfunded state retirement payments. And nueson say COMMIfornia is yhe best? Some kind of disconnect there. BTW, after living thrre fo 52 years,I removed myself from that place.
Probably some BS - as the rich usually buy businesses which are basically a tax dodge.
Newsom is like having the Mayor of Chicago as California governor.
Well said....she's beetljuice...hes the joker. Hope Trump has him audited.
This is actually what took out Detroit. Yes, the automobile industry collapse was the catalyst, but what actually killed them was that they had too much loss of tax base without decreasing their spending. resulting in them having to ultimately declare bankruptcy. People with options will exercise them, the only people that would be left are people that don't have the option to leave.
When people can’t leave, drugs and corruption take over. I’ve seen that happen to a home town of mine
No, the auto industry killed them. Period.
Money is just piece of paper. What really matters is the value actually being created there. As long as productions stays there, they will be fine.
If rich people, who don’t actually do meaningful work there are leaving, that can be a huge relief for real estate. And their main issue is that rich people are taking much of the real estate, so working people are pushed out far away from their workplace, or straight into homelessness.
And those people who doesn't have the option to leave, usually can't afford to pay taxes.
@@juzoliif rich peoples leave detroit, than how can they take much of detroit's real estate with them ? When they leave, they also sold their real estate.
Detroit is a city you're taking a entire state
there's a fable where a goose laid golden eggs. It made the owners rich but they got greedy and decided to kill the goose to see what was inside. There was nothing.
The obvious lesson is that greed can ruin things, but I believe a more subtle lesson is that there's a limit to how much value you can extract from something before you ruin the system that produces value.
Tangibly, I have friends with kids or starting families that have moved to Texas, Tennessee, Arkansas, and I will certainly consider Florida or some other location based on a variety of factors. People are no longer tied to geographic location in the same way they once were.
Nancy even bought a $40 million beachfront mansion in Florida
And a Palazzo in Italy . . . . .
Her place is in Jupiter, just up the road from Palm Beach, where Trump has a home.
@@danielcobbins8861 There goes the neighbourhood,Justice Erigon must have had the forsight in valuing Mar di Lago at $18m, knowing Nancy was moving in.
@@danielcobbins8861 i would love to send her to jupiter. the planet 🪐
No more Texas moving.....we are overcrowded.
Send your aliens to NYC, then you'll have plenty of space.
They've been playing footsie with the idea of a wealth tax, and even a relocation tax after you moved out of the state years later. Not exactly an incentive.
U would think that statistically speaking the state government would make an occasional correct decision. Its truly amazing that EVERY decision is so terribly flawed and counter productive to the honest, hard working people they are sworn to serve. I left 20 years ago, so glad I did.
Once the next Dem “leader” gains the Oval Office they’ll just bail out CA with that printer press.
You have no clue, fix your own sad life
@@richardmesser1091 califailian fucktard detected
Don't get fanny flustered over the truth
God how about instead of telling him he’s stupid actually fucking explain it of your so smart.
@@sethevans5318 no
Didn’t think so
$68 billion in the hole! These politicians should resign or be fired!
They'll just double down.
No it’s time for reparations! Health care for illegals that have no right to be here!
80% of California's income taxes go to government workers' salaries and pensions. It's currently taking TWO MONTHS for them to just process a check! Ir's taking SIX to SEVEN MONTHS for the CA Department of Labor to just RESPOND to a claim.
I'm currently making okay money, and hope to start business and business expansion.
With the amount of taxes I pay I'm tempted to move to Vegas before I start hosting any events or expanding as there's no income tax in Nevada.
Vegas is also a very strategic area as many California's travel there every weekend. Therefore you are able to market to California despite not residing there.
California is not just taxing them at 13.3%. There is a wealth tax on the super rich where they take 1% of their wealth each year too. That law goes into effect in 2024
The wealthy people will stick around for another year or two, and then they’ll bail….there’s no way in hell they will put up with it for long. Just like in new york city; the rich people move out and suddenly, the cities income drops by 45%. Then again, wealthy people can afford the lawyers that find loopholes.
lmao
We have something like that in the Netherlands too. Only difference is, that is ALL the government takes for your ENTIRE capital gains tax. If Cali really intends to add that law, I'd be surprised if anyone with a sizeable net worth stays in the state. (For reference: It was 1.2% here not 1%, but the point obviously stands - They basically say you can make 4%, we tax it at 30%, and we wont bother going through every single stock you sold/held etc and just call it 4%*30%=1.2%
It's something that only impacts 50M or 1B net worth people (two tier system) but yes, it is chasing the big economic engines the heck out of California and this is very impactful. Most people don't understand that if some lady has a net worth of 250 million let's say, having built a powerful business over many decades, her net worth is not a giant pile of money she sits on wringing her hands and cackling evilly. Most of that money is GENERATING economic action in a big way. It's involved in jobs, in massive amounts of business to business traffic, in generating massive amounts of tax revenue. I had one billionaire client (far as I know the only one I've had, but I've had many north of 100M NW, I do high end construction in Los Angeles). He told me almost all of his money was tied up in publicly traded companies, and that at times he would have real cash flow concerns. Not the kind that make people cry of course, but you get the idea -- he wasn't sitting on a billion. He at times had no liquidity, it was all tied into publicly traded company value. He even had special restrictions on what stock he could sell off, how much of it he could sell off, it sounded very complicated.
So in my example of "the lady with 250M", the dumb Bernie Bros think "yay, we chased that lady out of California", but what they really have done is greatly reduced tax revenue, killed 5000 jobs, and stressed the hell out of many businesses that dealt with this "evil rich lady".
Extrapolate this over the many men and women and couples who are NW50M or more leaving and you get the idea of what Newsom is doing. He's creating a poverty state that will be very much like Venezuela. This is also scaring out a lot of "moderately well off" people out and this lowers revenue. I just said goodbye to a couple who are friends of my wife and I for over twenty years, NW in eight digits. They sold their CA home and have moved to Florida. It's not a funny thing that conservatives claim, it is happening. Most of my close friends have moved away to Florida or Texas.
To be honest, if I had a high net worth I would leave a state/country the MOMENT that they create a high exit-tax like they intend to do there (so you're gone before it takes effect). Not moving until afterwards is like waiting for the serial killer to reload his gun instead of running away.@@mikeg3728
A bit worrisome is that some of those leaving are the ones who voted in the policy makers. Hopefully they don’t spread their votes to the areas they are moving to.
They will.
I’m sure they will. Europeans escaped taxation only to repeat the problem here in North America.
They will. Theyre morons
They always do
Nope. They're moving to Colorado and f'ing this state up too.
New York has the same problem.
HUGE MISTAKE NOT RECALLING GRUESOME NEWSOM.
I had my business in CA and moved the whole thing and my family, and every worker out of State. CA is unbearable with its taxes, and the politicians spending money on egregious BS like “reparations committees” is too much for a decent person to tolerate
Cool, you gonna keep voting blue like a jackass tho?
@@CertifiedClapaholic just to make you mad and ruin it for you personally
@@Electric_ I expect nothing less 😎
I moved my business out of Monterey California to Arizona for the same reason. Just make sure to leave your democrat vote behind. Realize that if that is who you vote for. You might as well stay where you’re at.
@@ryanclark2289 man I’d never vote for a democrat, nothing to leave behind in that regard
Gavon nusciance is the real reason Why people are leaving
..one million covid dead Americans ..700,000 of them Trump bleach injecting MAGAs...they aren't leaving for anywhere!
But he doesn't have a mug shot
That’s what they get. I’m in California. That’s what we get for have a liberal gov.
Most 200K income in CA... over all we are paying .37 cents on every $$$ we make.. TIME TO GET THE HELL OUT.
As Jerry Brown put it,
"The smart ones figure out how to make it "
And he was right, as the exodus illustrates.
Haven't heard his name in so long 🙂 I'm a red in California and some of my friends are blue 😮😮
A lot of residents think everything is fine
They think there is no financial crisis.
We ignore the consequences of our actions
We hate rich people
We are setting ourselves up for a catastrophe
When we run out of money
And we wonder why (we're not too bright; we just vote to feel good about ourselves)
Who do you think has the money when we "run out of money"?
@@ynhumt There are 4 alternative outcomes:
1. They keep raising taxes (but the middle class suffers more and accelerates exodus)
2. They cut spending (but special interests dependent on the freebies will do everything to stop it)
3. They seek a Federal bail out (sets a bad precedent because States are supposed to balance their budget. They can't print money like the Feds. The Feds have a $34 Trillion deficit and so if they print bailout money, it creates inflation, devalues the dollar)
4. Catastrophe: They keep as is and just are unable to spend for freebies
5. They claim they were unable to tax IPOs and therefore didn't get the revenue. But Start Up formation in CA has fallen off a cliff. Very few classic garage based start-up are formed in CA anymore (I am former start up guy)
The left seems to be composed of people who failed in life and just want to take everyone else down.
Yeah, the residents that think everything is fine are the ones on government entitlements being supported by the wealthy and the fast-shrinking middle class.
Its Like that old saying...They came for the rich, and I did not move because I was middle class. They came for the whites and a said nothing , because I was hispanic, then they came for me, and there was no longer enough Money in my account, to afford to leave..
Years after moving from California, that state placed a tax lien on me. It seems they believed I was still earning money there because I had an unexpired professional license from California. I had to fight with them to prove I was NOT living or earning there. Just horrible.
Keep Voting for the Same Crew it only gets worse
It's not just California. Look at some of the big cities. Once taxes and crime grow, those with the income leave, move to the suburbs or even further. Services are directly impacted due to tax shortages. Like cancer, this feeds crime. Growing up in Baltimore, I personally witnessed most of my entire family move away - 100's of people due to high crime and taxes in the 70's and 80's. Now Baltimore is one of the deadliest cities in the nation.
Someone hasn't been celebrating diversity with adequate enthusiasm.
Yep. Crime and Democrat led cites go hand in hand.
@@Westcoastguy Maybe you can help me. I have a hard time understanding the logic. Either those city leader are flat out stupid or they are purposely trying to drive their cities into the ground. What do you think?
@@jondear772 What's happening is the politicians play to their base. And the left think everything is racism especially locking up a certain demographic who commits most of the crime. So they pass legislation like no cash bail where criminals get arrested and are out that same night only to commit more crimes. So basically crime gets out of control and that forces people to leave for safer areas (red states). How the politicians can't put two and two together and see it's hurting their economy is beyond me.
Deliberate Democrat maliciousness. Virtue signal, embezzle, turn everything into Detroit. As long as they get theirs and they divide us by race, the DNC is happy as a pig in sh*&.
@@jondear772
What! People hate being robbed and lied to, but, but, but……..good weather.
We liquidated in 2022 and moved to Idaho. We miss our friends in California but don't miss the circumstances that led to pulling up stakes. The state is a tale from a Dickens novel.
Don’t let Newsom rig it (again) and get rid of him. Get a Rep Gov.
And the politicians can't see why. And they could care less about the people, what they think of want.
California areas are already looking like skidrow.
Governor Needs to focus on the Freaking Issues, we the People are so sick of the High Taxes and Crime. Put the Green New Deal on the back Burner.
Thank you, SNA.
Same thing is happening in NYC…the high earners who pay for mostly everything are leaving…soon the middle class will be squeezed instead
What middle class? Obama basically destroyed them. Now it just a return to aristocrats and serfs, just like he planned.
Well, they persecuted Trump, instead of supporting him and making billons off of tourism and new buisinesses. That persecution led to Trump allies, friends and business lesders moving to Florida. Wall Street need to move to Miami, Dallas or Oklahoma City.
They already are. The city tax plus state tax kills paychecks alone.
Remember ladies and gentlemen. People will always go along with something until it hurts their hip pocket.
Also, small government, low taxes and low red tape are the way to go.
Lastly, do not vote for the same policies that made you leave in the first place.
Unfortunately, some have voted for the same policies that made them leave. Colorado is prime example.
What bothers me is California has the highest state income tax in the nation yet we still have shit public transport and cities in general seem to be short on cash. Where is all the money going?
nice reporting!!! thanks 🙏🏽
it's not fantasy town anymore , rodeo drive just might be having rodeos again once the rest of the shops close.
I live in a major city in Ca. My wife’s in for penny in for a pound. I get it, with her job in 5 year she can retire at 52 w full pay and benefits. The state is nuts though. They have employees looking through you garbage to make sure you sort it, but don’t arrest people for stealing.
I work in property management. Police don’t arrest people when they break into homes. Even when the person is found in the home by the police. If you park in handicap spot someone will be along to tow your car, if you’re living in the car they CANT tow you.
The goal is to take as much of your money while providing as little as possible
Oh please. Just because you leave means nothing. If you can’t sell your house, you still pay the taxes on it.
Newsom reminds me of every corrupt mayor in a superhero movie ever.
The forest was shrinking, but the trees kept voting for the axe, for the axe was clever and convinced the trees that because his handle was made of wood, he was one of them.
But the axe handle was, in fact, fiberglass with a faux, wood-grain finish.
Fantastic comment
This has nothing to do with Trump
As a CPA who has prepared thousands of CA resident tax returns, I'm surprised the number leaving isn't higher. The money we earn is really CA's. The governor just lets us keep a little bit of it to make us feel good about ourselves. Imagine being the governor who killed CA. What a legacy!
Wow your so smart!
@@kristinahammond-ly4gm "you're"
Not all jobs can be done remotely
They should be more concerned over the policies causing people to flee. The sky high taxes, the rampant crime, the shit in the streets…
Recall Gavin Gruesome
Mass poverty is what California needs to have enormous deflation
That was “His (self-appointed) Newsolini’s plan (to completely eliminate small businesses and the middle class).
It’s the politicians. If it has deflation, politicians will raise the taxes. This is the end result of one party system, democRAT!
The problem with that is, as beautiful as California is, you won't want to live there when it's a third-world country, which it's turning into. I left there 15 years ago, you couldn't pay me enough to move back.
They are replacing the 1% with immigrants. They just pass a law that all immigrants will receive healthcare.
that would be missippi
This is why I cringe when people say the rich should be taxed at a rate even more that it is now.
Right cause I can't afford housing but the multimillionaire down the road just built an automatic ass whiper for his dog, fuck off yeah the rich should be forced or have there assets seized simple as that.
@@Thiccness_Is_Delicious Assets seized?! Who are you...........Stalin?!!
@@Thiccness_Is_Delicious Quit being poor 😭
@@mmouseav8r402 they weren't until they stayed an extra 2 years.
@@Thiccness_Is_Deliciousjust move to North Korea, what's stopping you?
Like they didnt know this was coming Gavin is the worst govenor
Yep, as soon as I retire I'm moving out. I have 9 years to go. I hope the state isn't completely demolished until then.
U-Haul has named Gavin Newson its "Salesman of the Year".
If you ask Newsom not only are the top earners staying but everyone from Florida is moving to California as well.
CA can't fail fast enough for me. The sooner we learn what a failure progressivism is, the sooner we can fix things
Well keep dreaming because California is still growing in GDP
@@taxfree4603its more automated non the less they will out spend it dramatically
@@taxfree4603 show me you can make your ideas work and I'll buy them.
@@taxfree4603since Newsom has us $68,000,000,000 in debt I’m sure this growing GDP will clear it up in no time, right? Idiot.
@@taxfree4603 they are but at literally 1/4 the rate of the national average. California is losing out to Texas and Florida fast. Cali will reach a tipping point soon after enough people leave and their economy will collapse
I’m paying $4000 a month in taxes from payroll and I still manage to owe more. Our days are numbered in California.
Californians that have moved to Idaho recently are of that demographic. Plenty of cash and a desire to change it to be like what they left
People don't seem to understand that in the USA we can vote with our feet.
Or not vote at all
No one cares what your feet think
Well, this was 1000% predictable that the high earners would move out of CA. And the worst part is that over the years CA politicians have been able to raise income taxes by heavily weighting it toward the smaller percentage of high earners. That is their tax-the-rich program. I think that the Democrat politicians thought this would always work. All the sane people tried to tell the politicians that the high-earners would leave if it got too bad, but the leftist politicians wouldn't listen. I'm not a really high earner, but I left CA in January 2018 and took my small engineering consulting business with me. At that time (in 2018) I saw no indication that CA politicians would change their ways until total destruction occurred. Perhaps this is the beginning of total destruction of the state.
France tried the 'screw the rich' policy. The rich left and now they are worse off than before. Countries that reward high earners are doing very well.
@@RS-ls7mm In 1991 (I believe), Congress enacted a 10 percent luxury surcharge tax on boats over $100,000, cars over $30,000, aircraft over $250,000, and furs and jewelry over $10,000. This rather swiftly led to a sharp contraction of luxury boating industry in the US and a loss of about 25,000 US jobs in that industry. However, only two years after its imposition, in August 1993, at the behest of the luxury yacht industry, President Bill Clinton and Congress eliminated the "luxury tax" citing a loss in jobs.
@@edschultheis9537 Plenty of examples of leftist policies backfiring. I think the left are people who failed in life and want to take down everyone else.
While I am not in the 1% I left 10 years ago. Why? Becaues of COMMIfornia policies on taxes and illegal immigration, Medical spending on illegals and other communist activiyies. My wife was born there, I had lived there fo nearly 50 yesrs. COMMIfornia made the decisoon easy.
George Deukmejian was the last fiscally responsible Governor Ca. has had. He left office in 1991. The next year prop 187 was defeated and the giant aerospace layoffs shortly after changed Ca. by effectively destroying the middle class. It is too bad, the golden state was once a nice place.
No one has succeeded to look more like Lucifer than Gavin Newsom. The man should audition if anything comes up in Hollywood for the role.
He is bankrolled by Silicon Valley…
I was thinking more of looking like Trudeau on steroids 🤣
his aunt nancy is quite a piece too 🧙♀️
And the exodus may be accelerated this year as California is imposing an energy tax for electricity where the private sector pay for energy according to their income bracket.
The green mafia run amok. What a waste. And the vanity to think these puny but very expensive efforts will do Nothing to affect the climate. Nothing.
Lived in CA for the last 60 years. Can’t wait to get out!!
Born and raised in Los Angeles here... it is so sad to see the communities I grew up in turn to utter and complete garbage. My whole life I never understood why so many vote blue when every democrat continues to ruin a once great state (and nation). The stress of living here is ridiculous. Everyone's fake, cutthroat, money-obsessed, and worst of all, hyper liberal. The few that aren't, suffer greatly. My wife and I are ready to have kids but can't because we can't save a dime even living in one of the worst ghetto's with over 100k household income. The drug problem is ridiculous and ruined every last person in my old neighborhood that used to be a thriving ranching community. Don't even get me started about driving anywhere here. The good cops left their jobs and now the majority of the ones we have left are under trained and don't know the law or the constitution (trust me, I got pulled over in my drive way after being "paced at 60mph" on a road I wasn't even on in a car that doesn't even fit the description of mine, and also gave me a fraudulent ticket for no insurance even though I had multiple cards and papers to prove I did). Even the nice areas aren't nice anymore and are full of crime and homeless people. All I'm working for now is to leave to a better state and actually enjoy my life...