Toyota moving to Texas

NEW -> Contingent Buyer Assistance Program
This will surely keep businesses here in California!

Assembly Democrats offer a dumb tax bill. Republicans love it

Playing to bad tax-and-spend stereotypes of California Democrats, Assemblymen Kevin McCarty and Phil Ting have offered a counter-productive, ill-considered and ultimately futile proposal to raise corporate taxes.

It should be withdrawn and buried, never to be heard from again.

The measure, Assembly Constitutional Amendment 22, seeks to ask voters to impose on corporations doing business in California a ?surcharge? of 10 percent on net earnings of more than $1 million, as The Sacramento Bee?s Alexei Koseff reports.

The windfall ? as much as $17 billion a year ? would go to low-income workers in the form of an expanded earned income tax credit, tax rebates or other tax relief to be determined, and would be spent on more state-funded child care, early childhood education, affordable health care and college financial aid.

It all sounds so good.

But it is a tin-eared attempt by McCarty, D-Sacramento, and Ting, D-San Francisco, to resist President Donald Trump and congressional Republicans who approved a massive federal tax cut for corporations. It?s especially ill-timed when Gov. Jerry Brown anticipates sufficient tax revenue to maintain a $13.5 billion reserve fund this year.

We do hope there?s money in this year?s budget to expand California?s earned income tax credit. And we dislike much of Trump?s tax overhaul. But ACA 22 is the sort of concept that legislators offer up when they talk amongst themselves and a few others who don?t dare question them.

It has no chance of winning the necessary two-thirds vote in the Legislature needed to place it on the ballot. And yet it has political downside for the Democratic Party. Republicans are capitalizing on their announcement, pointing out that if Democrats hold two-thirds majorities in both houses after the 2018 election, they could pass such punitive tax increases.

Certainly, Ting and McCarty did no favors for Sen. Josh Newman, D-Fullerton, who faces a recall in June, supposedly over his vote to raise gasoline taxes in 2017. Newman holds a swing seat, and without him, Democrats would lose their two-thirds majority in the Senate.

There?s plenty broken with California?s tax structure. But its 8.84 percent corporate tax rate is already relatively high compared with other states. Bills that blindly seek to soak big business and the rich at a time of budget surplus solve nothing.

California?s tax system should be updated to match a 21st century economy. The high sales tax rate, which hits low-income people hardest, ought to be lowered, and certain services used by wealthier people and corporations ought to be subject to taxes. Proposition 13, the property tax cutting measure approved by voters 40 years ago, could be revisited.

The time may come when California needs to turn to corporations for more revenue. But not when there is a $13.5 billion budget reserve, and not simply because Democrats dislike the current occupant of the Oval Office.

http://www.sacbee.com/opinion/editorials/article195653294.html
Click to expand...
 
Patients running the insane asylum.  These greedy politicians are so blind they will kill an industry before it even gets a foothold in the state by taxing it to death. . A sort of retroactive abortion.

High taxes on legal pot in California could mean black market will thrive

State and local taxes on marijuana could surpass 45% in some parts of California, jeopardizing efforts to bring all growers and sellers into a state-licensed market in January, according to the global credit ratings firm Fitch Ratings.

?High tax rates raise prices in legal markets, reinforcing the price advantage of black markets,? the firm said in a report Monday. ?California?s black markets for cannabis were well established long before its voters legalized cannabis in November 2016 and are expected to dominate post-legalization production.?

http://www.latimes.com/style/la-marijuana-updates-high-taxes-on-legal-pot-in-california-1509477443-htmlstory.html
 
IMHO there's a flaw in the ranking system.  Each measured component has a fairly important piece that will be adversely affected by poverty and people on State assistance.  If we simply ranked States by percentage of poverty I wonder how it would be different.


I'm always leery when I read descriptions iike this:
"Crime & Corrections ranks states based on public safety and the quality and fairness of their prison systems, including racial bias."
 
And the hits just keep on comin

Californians fed up with housing costs and taxes are fleeing state in big numbers

More Californians are moving from the Golden State, particularly lower-income residents, although even middle-class residents are saying goodbye.
The trend is a symptom of the state's housing crunch and, for some, high taxes.
Census Bureau data show California lost just over 138,000 people to domestic migration in the 12 months ended in July 2017.
Lower-cost states such as Arizona, Texas and Nevada are popular destinations for relocating Californians

https://www.cnbc.com/2018/03/19/californians-fed-up-with-housing-costs-and-taxes-are-fleeing-state.html
 
morekaos said:
Census Bureau data show California lost just over 138,000 people to domestic migration in the 12 months ended in July 2017.
Click to expand...

So misleading.

If you look at the census data, California actually gained about 280,000 people in that time period:
https://www.census.gov/quickfacts/CA

California
Population estimates, July 1, 2017, (V2017) 39,536,653
Population estimates, July 1, 2016, (V2016) 39,250,017
Click to expand...

Where is the article for double the people leaving California are moving in?

#mathfacts
 
irvinehomeowner said:
morekaos said:
Census Bureau data show California lost just over 138,000 people to domestic migration in the 12 months ended in July 2017.
Click to expand...

So misleading.

If you look at the census data, California actually gained about 280,000 people in that time period:
https://www.census.gov/quickfacts/CA

California
Population estimates, July 1, 2017, (V2017) 39,536,653
Population estimates, July 1, 2016, (V2016) 39,250,017
Click to expand...

Where is the article for double the people leaving California are moving in?

#mathfacts
Click to expand...

It's true that domestic migration is only one component of population.  The others are immigration and the ratio of births to deaths.

Still, this article points out something that has been happening for a long time, which is that multi-generational California residents are moving out, especially people that are earning only the median income or less.  It makes sense if you don't have great earning power to lower your cost of living by going out of state.  Blue collar jobs pay almost the same in both places, but your cost of living can be cut in half.

You also have older folks retiring to states where they can pay cash for homes.  They don't need the robust CA job market any longer and they aren't active enough to care about the weather or outdoor activities as much as they used to.  Why not buy a dream home and enjoy life outside of the rat race?

IHO - It seems like you've been around these parts for awhile.  I'm surprised you don't have any family or friends that have chosen to leave California for better prospects somewhere else?
 
Liar Loan said:
irvinehomeowner said:
morekaos said:
Census Bureau data show California lost just over 138,000 people to domestic migration in the 12 months ended in July 2017.
Click to expand...

So misleading.

If you look at the census data, California actually gained about 280,000 people in that time period:
https://www.census.gov/quickfacts/CA

California
Population estimates, July 1, 2017, (V2017) 39,536,653
Population estimates, July 1, 2016, (V2016) 39,250,017
Click to expand...

Where is the article for double the people leaving California are moving in?

#mathfacts
Click to expand...

It's true that domestic migration is only one component of population.  The others are immigration and the ratio of births to deaths.

Still, this article points out something that has been happening for a long time, which is that multi-generational California residents are moving out, especially people that are earning only the median income or less.  It makes sense if you don't have great earning power to lower your cost of living by going out of state.  Blue collar jobs pay almost the same in both places, but your cost of living can be cut in half.

You also have older folks retiring to states where they can pay cash for homes.  They don't need the robust CA job market any longer and they aren't active enough to care about the weather or outdoor activities as much as they used to.  Why not buy a dream home and enjoy life outside of the rat race?

IHO - It seems like you've been around these parts for awhile.  I'm surprised you don't have any family or friends that have chosen to leave California for better prospects somewhere else?
Click to expand...

And your point is?  That multi-generational Californians are somehow extra important?  California is getting expensive to live in...because a lot of people want to live here and it has good high-paying jobs. 
 
Liar Loan said:
IHO - It seems like you've been around these parts for awhile.  I'm surprised you don't have any family or friends that have chosen to leave California for better prospects somewhere else?
Click to expand...

I've had relatives that moved out of state... came back a few years later because of weather, lifestyle, family even though housing was much cheaper. They still go back to visit the friends they made... but glad they live here and only have to visit there.

We have friends who moved to the south east coast (Panda!!!) and they still want to move back but maybe after their kids have graduated from college. They come to Cali multiple times a year for work and leisure.

So by inference, I can also say that the opposite of that article points out that people who have the income choose California even though they can afford more elsewhere. And more people are making that choice than those who are leaving.
 
Actually, it's not the poor, well, actual poor as opposed to California Poor, that are leaving.  I'll look to see if I can find the research that I previously saw that said those leaving are largely the $100K-$200K crowd.

They make okay money, but here, it will leave you scrabbling for a ok-ish condo in a good school district area or a 50 year dated home needing work in a much rougher school area. 

For those with transportable skills, your work-a-day office and tech workers, their quality of life is greatly improved elsewhere.

And frankly, the continual export of Californian's to Arizona, Texas and elsewhere is already having noticeable effects on the kinds and levels of social services and government regulations they want. 

The true irony is they flee here because of taxes and nanny state and proceed to demand the same when they get where they're going.

The people of our country, IMHO are seriously dysfunctional regarding taxes and services and we have a bad case of cake and eat it to with someone else 'should pay their fair share'.
 
I can tell you for fact, those high incomes, that are able to operate off-site, are moving. I can tell you of several of my com-padres, with $3-5 million of income, are simply switching offices to Las Vegas and Texas.  Buying houses there, putting up all the necessary sign posts that allow them to claim residence. Keeping their houses in Newport, Huntington and Long Beach, while skirting all the Cali taxes, and (really) still living here.  Money (like life) finds a way.
https://youtu.be/oijEsqT2QKQ
 
morekaos said:
I can tell you for fact, those high incomes, that are able to operate off-site, are moving. I can tell you of several of my com-padres, with $3-5 million of income, are simply switching offices to Las Vegas and Texas.  Buying houses there, putting up all the necessary sign posts that allow them to claim residence. Keeping their houses in Newport, Huntington and Long Beach, while skirting all the Cali taxes, and (really) still living here.  Money (like life) finds a way.
Click to expand...

So you just confirmed my side of the argument... no one is really leaving California if they can afford it.
 
irvinehomeowner said:
morekaos said:
I can tell you for fact, those high incomes, that are able to operate off-site, are moving. I can tell you of several of my com-padres, with $3-5 million of income, are simply switching offices to Las Vegas and Texas.  Buying houses there, putting up all the necessary sign posts that allow them to claim residence. Keeping their houses in Newport, Huntington and Long Beach, while skirting all the Cali taxes, and (really) still living here.  Money (like life) finds a way.
Click to expand...

So you just confirmed my side of the argument... no one is really leaving California if they can afford it.
Click to expand...

And how is that much different than people who move their money behind tax shelters and overseas?  Rich people will find ways to avoid taxes.
 
Most importantly the income, tax revenue and investment IS, all the while more takers flood in.  Socialism is great...till you run out of other peoples money.  These are native Californians who would and have paid their state taxes in the past.  They would again, if the burden was not so "unfair" and onerous. Others I also know have simply fled in order to escape.
 
Irvinecommuter said:
irvinehomeowner said:
morekaos said:
I can tell you for fact, those high incomes, that are able to operate off-site, are moving. I can tell you of several of my com-padres, with $3-5 million of income, are simply switching offices to Las Vegas and Texas.  Buying houses there, putting up all the necessary sign posts that allow them to claim residence. Keeping their houses in Newport, Huntington and Long Beach, while skirting all the Cali taxes, and (really) still living here.  Money (like life) finds a way.
Click to expand...

So you just confirmed my side of the argument... no one is really leaving California if they can afford it.
Click to expand...

And how is that much different than people who move their money behind tax shelters and overseas?  Rich people will find ways to avoid taxes.
Click to expand...

Uh... different topic.

Because morekaos' earlier post was about how people were leaving Cali, when actually, they are not, just their business addresses.
 
You must log in or register to reply here.
Back
Top