Conservatives have long predicted that California’s high top marginal tax on incomes was causing rich “job creators” to leave the state. The new study that Steve Breen (staff editorial cartoonists for my local paper, the San Diego Union-Tribune) is referring to, that was published in Monday’s edition of the paper, showed that actually there was a significant INCREASE in the number of wealthy people coming into the state (and bringing their jobs with them), which belies the Reagan “supply side” “trickle-dwon” myth that high top marginal income tax rates discourage job creation.
Where have I heard this before? “California’s a Garden of Eden, a paradise to live in or see, but believe it or not, you won’t find it so hot if you ain’t got that do re mi.”
But But if the wealthy are “Job Creators” then the jobs will follow the rich Right. I mean that is what Reagan Supply side theory and the Laffer Curve tell us what must happen
San Francisco has about the highest rent in the country due to the high tech millionaires. The people who work in SF have had to move to Oakland and the East Bay area, because they could not afford to live in SF, driving those people to go live in Sacramento. Polls show the majority of people in the Bay Area would like to move due to deteriorating conditions.
It was no different 25 years ago. Once we learned my wife was pregnant we had to leave SF for the East Bay just to have enough room. I missed walking to restaurants and galleries and such. But then how much of that do you do with a newborn anyway?
DD Wiz Premium Member about 5 years ago
Conservatives have long predicted that California’s high top marginal tax on incomes was causing rich “job creators” to leave the state. The new study that Steve Breen (staff editorial cartoonists for my local paper, the San Diego Union-Tribune) is referring to, that was published in Monday’s edition of the paper, showed that actually there was a significant INCREASE in the number of wealthy people coming into the state (and bringing their jobs with them), which belies the Reagan “supply side” “trickle-dwon” myth that high top marginal income tax rates discourage job creation.
Daeder about 5 years ago
…and the Californians who can’t afford to live in California anymore are moving to Oregon.
Zev about 5 years ago
It won’t do the middle class to leave – the taxes they pay that fund all the corporate tax cuts will follow them wherever they go.
Display about 5 years ago
Where have I heard this before? “California’s a Garden of Eden, a paradise to live in or see, but believe it or not, you won’t find it so hot if you ain’t got that do re mi.”
JHayes about 5 years ago
But But if the wealthy are “Job Creators” then the jobs will follow the rich Right. I mean that is what Reagan Supply side theory and the Laffer Curve tell us what must happen
Radish the wordsmith about 5 years ago
Welcome to the land of liberalism and freedom, rich people.
Radish the wordsmith about 5 years ago
San Francisco has about the highest rent in the country due to the high tech millionaires. The people who work in SF have had to move to Oakland and the East Bay area, because they could not afford to live in SF, driving those people to go live in Sacramento. Polls show the majority of people in the Bay Area would like to move due to deteriorating conditions.
Typesbadly about 5 years ago
It was no different 25 years ago. Once we learned my wife was pregnant we had to leave SF for the East Bay just to have enough room. I missed walking to restaurants and galleries and such. But then how much of that do you do with a newborn anyway?