 LinklistPremium
join:2002-03-03
Longport, NJ
kudos:5 | Silicon Valley may be emptying out soon & moving elsewhere Recent tax laws(Prop 30) passed in Calif has the potential to drive out of the state all new entrepreneurs setting up businesses. The venture capitalists and angel investors are quickly souring on the state and will no longer recommend Calif as a place to start up a business.
»allthingsd.com/20121204/what-pro···reneurs/
Where will they go instead? Plenty of states will be willing to cut deals to get new start ups in their states.
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A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury. |
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| No one's going anywhere just because capital gains jumped up. |
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 pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD
1 edit | said by Kalphiter:No one's going anywhere just because capital gains jumped up.
Hehe... Maryland did something similar a few years back. They enacted a "millionaires tax.". The state comptroller's office (the state treasurer) reported that thousands of high income earners simply left the state, as they did not file returns or pay Maryland income tax because of it.
You are right in that one tax might not drive out a lot of people. However, California has been assaulting high income earners for many decades now, and with a repeal of Proposition 13 (caps on property taxes) all but a certainty now this might be the straw that breaks the camel's back.
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USA 2012 - the mooches won. |
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| It really only works if it's done unilaterally across the country, because people will seek ways to get more money but usually not go as far as leaving the country. |
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 MaggsLife is awesomePremium
join:2002-11-29
Woodside, NY
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My company picked up an existing CA business last year, and it's been nothing but a PITA and is dragging us down financially and administratively. Their tax burden and legal compliance regime is insane.
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Yes, ladies I am single. |
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pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD | reply to Kalphiter
said by Kalphiter:It really only works if it's done unilaterally across the country, because people will seek ways to get more money but usually not go as far as leaving the country.
Yea and then they just as easily move out of the country.
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USA 2012 - the mooches won. |
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Austin, TX. lots of CA businesses already moved or opened new operations here. Lots of startups too. No state income tax, business friendly, good tech worker population, largest university in the country, desirable place for young educated people. And I live there. 
IBM, Samsung, AMD, TI, Dell, Freescale... Just to name a few big local high tech outfits.
»metalinks.com/hills.htm
»chiefexecutive.net/what-keeps-texas-on-top |
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pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD | said by MyDogHsFleas:Austin, TX. lots of CA businesses already moved or opened new operations here. Lots of startups too. No state income tax, business friendly, good tech worker population, largest university in the country, desirable place for young educated people. And I live there.
IBM, Samsung, AMD, TI, Dell, Freescale... Just to name a few big local high tech outfits.
»metalinks.com/hills.htm
»chiefexecutive.net/what-keeps-texas-on-top
Indeed. U-Haul also confirms a California to Texas exodus.
»finance.yahoo.com/news/obama-emb···084.html
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USA 2012 - the mooches won. |
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