Why the $15 minimum wage will cost California 400,000 jobs

[Que]

If the only reason they live in California is low taxes that could be true but there are usually a large number of factors that makes someone decide where they want to live. If tax was the only reason then we would see people moving from country to country a lot more but we don't. As I said before, there are no queues of rich people trying to leave high tax countries.

Yes, there is. no one in the 50% of the population who doesn't pay anything in federal taxes care of course but people that do have to pay care quite a bit. That's why we are seeing so many Americans moving to Ecuador or staying here and establishing offshore investment accounts for money that they never repatriate to the US.

 

[Sean Renaud]

People don't move for taxes however is the real answer.

 

[coachdb18]

If the only reason they live in California is low taxes that could be true but there are usually a large number of factors that makes someone decide where they want to live. If tax was the only reason then we would see people moving from country to country a lot more but we don't. As I said before, there are no queues of rich people trying to leave high tax countries.

Watching 'Squawk on the street' today, they're agreed Silicon Valley is leaving Silicon Valley for cheaper places, to include Google... the migration is also supposed to increase as the effects of the Tax bill take effect.

 

[DeYaKen]

Watching 'Squawk on the street' today, they're agreed Silicon Valley is leaving Silicon Valley for cheaper places, to include Google... the migration is also supposed to increase as the effects of the Tax bill take effect.

So your president's drastic cuts in corporation tax has had no effect, or maybe it has. You see cutting corporation tax encourages companies to maximise profits. The easiest way to do that is to shift the jobs to places where they can get a better level of expertise at a cheaper price. The amount they pay in taxes is minimal compared to the wage bill.

Strangely enough the institute for policy studies did a study of the effects of taxation in the US. It showed that Tax reductions resulted in higher CEO salaries and more outsourcing, to look at it another way fewer jobs.

http://www.ips-dc.org/report-corporate-tax-cuts-boost-ceo-pay-not-jobs/

 

[DeYaKen]

Yes, there is. no one in the 50% of the population who doesn't pay anything in federal taxes care of course but people that do have to pay care quite a bit. That's why we are seeing so many Americans moving to Ecuador or staying here and establishing offshore investment accounts for money that they never repatriate to the US.

How many are actually leaving and do they contribute to your economy? We have a number of rich people in Britain who might leave if we forced them to pay tax. Our government, largely dominated by millionaires, uses that as an excuse to let them stay here without paying tax. The fact is they contribute very little to the economy other than raising property prices in London.

As for moving money offshore to avoid taxes, that is the fault of your government for allowing it. As it is the money might never return to the US but what makes you think it would be invested in the US anyway? People who move money to avoid tax also invest it where it will get the highest return. Right now that is not the USA.

 

[Rightguide]

If the only reason they live in California is low taxes that could be true but there are usually a large number of factors that makes someone decide where they want to live. If tax was the only reason then we would see people moving from country to country a lot more but we don't. As I said before, there are no queues of rich people trying to leave high tax countries.

California has had a steady exodus of rich people over the last 20 years. California is a high tax state. The point is, taxes paid that could in the past be deducted from the federal tax burden will now be paid in full by California residents. High-tax policies in California will no longer be subsidized by states with lower taxes.

 

[Que]

People don't move for taxes however is the real answer.

Of course they do. They even commonly state that as a primary reason when they move from California to Texas. If you make $1000000 a year you can keep the $100,000 that you would have paid California if you move to Texas or Tennessee.

 

[Luk]

Are you sure about all that?

[Please do not post copyright material without citation, and then limit your excerpts to less than 5 paragraphs, per our forum guidelines.]

 

[Rightguide]

Presently in the state of California out of a population of 40 million, you have one half of the tax burden falling on 166,000 rich families. I maintain if the present migration of middle class and upper-middle-class people continue to leave the state, the rich will follow.


Could GOP tax bill cause millionaire migration?
By Brittany De Lea Published November 30, 2017 Tax Reform FOXBusiness Opens a New Window.

http://www.foxbusiness.com/markets/2017/11/30/could-gop-tax-bill-cause-millionaire-migration.html

Leaving California? After slowing, the trend intensifies

By JOEL KOTKIN and WENDELL COX |
PUBLISHED: April 24, 2017 at 5:34 am | UPDATED: April 24, 2017 at 11:58 am

Some so-called progressives hail these trends, as forcing what they seem to see as less desirable elements — that is, working- and middle-class people — out of the state. They allege that this is balanced out by a surge of highly educated workers coming to California. Essentially, the model is that of a gated community, with a convenient servant base nearby.

Yet, in reality, this may prove to be wishful thinking. A dive into Internal Revenue Service data shows distinctly that, while poor people are, indeed, leaving, the largest group of outmigrants tends to be middle-aged people making between $100,000 and $200,000 annually. They may not be ideal algorithm creators for Facebook, but they do constitute the solid middle ranks critical to any healthy economy.

Indeed, since 2010, the Golden State has seen an overall net outflow of $36 billion from these migrants (and that counts only the first year of income). The biggest gainers from this exchange are where Californians are moving, to such places as Texas, Arizona and Nevada. That some California employers are joining them in the same places should be something of a two-minute warning for state officials.

https://www.mercurynews.com/2017/04/24/leaving-california-after-slowing-the-trend-intensifies/


State leaders closely watch migrating millionaires
Leaders keep close watch on migrating millionaires
By Kathleen Pender Updated 12:45 pm, Monday, January 13, 2014

http://www.sfgate.com/business/netw...sely-watch-migrating-millionaires-5135090.php


16 Reasons People Are Leaving California By the Millions
9:30AM EST 3/9/2017 MICHAEL SNYDER

https://www.charismanews.com/opinion/63520-16-reasons-people-are-leaving-california-by-the-millions

 

[WoundedKnee]

Go east young man, just avoid the next ocean.

 

[Luk]

A few interesting things to watch will be how those rich families react to all of their house people being deported.

And, if 45's sweeping tax cuts for the rich will incentivize those rich fams to stay in Cali.

 

[BotanyBoy]

A few interesting things to watch will be how those rich families react to all of their house people being deported.

And, if 45's sweeping tax cuts for the rich will incentivize those rich fams to stay in Cali.

Meh...fuck them.

I think what will be interesting imo will be to see how CA reacts.

Will they help their middle class, try to keep their people?

Or continue pushing their elitist stratification full bore??

I'm betting the latter.

 

[Luk]

Meh...fuck them.

I think what will be interesting imo will be to see how CA reacts.

Will they help their middle class, try to keep their people?

Or continue pushing their elitist stratification full bore??

I'm betting the latter.

vettebirther just said that the rich in California are leaving. Why would they be leaving if we are satisfying them? It can't be both, ya know.

 

[BotanyBoy]

vettebirther just said that the rich in California are leaving. Why would they be leaving if we are satisfying them? It can't be both, ya know.

I do know, which is why I didn't agree with or say anything of the sort. You do understand that I'm not him right?




Anyhow, some will leave.

But there is that 1%'er core that's uber hooked up.....they won't go, they will shit on the middle/working class to stay.

Will CA protect it's elites and shit on it's working/middle class or will it protect some of it's working/middle class?

I'm betting on the latter, I'm already on my way out if they don't cut the elitist bullshit with pot licensing quick fast and in a hurry.

 

[Luk]

I do know, which is why I didn't agree with or say anything of the sort. You do understand that I'm not him right?




Anyhow, some will leave.

But there is that 1%'er core that's uber hooked up.....they won't go, they will shit on the middle/working class to stay.

Will CA protect it's elites and shit on it's working/middle class or will it protect some of it's working/middle class?

I'm betting on the latter, I'm already on my way out if they don't cut the elitist bullshit with pot licensing quick fast and in a hurry.

Back off the wake and bake.

I didn't say you did. Just pointing out that vettebirther is wrong as usual.

 

[Hypoxia]

A few interesting things to watch will be how those rich families react to all of their house people being deported.

And, if 45's sweeping tax cuts for the rich will incentivize those rich fams to stay in Cali.

It's hard to move a farm. Trucking the soil around, ick. Thought I did read of a Utah town that had the bricks for its new city hall shipped by parcel post because it was cheaper than private haulage. So a hydroponic grower *could* mail their 'farm' out of state. But I digress.

Team Tromp's obvious plot: deport all allegedly undocumented farmworkers from California, Oregon, Washington, driving the blue states' economies into chaos to punish their liberal elites. Big agribiz? Screw-em; they better have subsidiaries in Kansas, Nebraska, Iowa, and other high-tax-load red welfare states, 'cause their Left Coast ops are Going Down. Kiss tomatoes bye-bye.

No more domestic tomatoes, anyway. They'll be flown in from elsewhere, as will new house staff for the rich elites, who will NOT let their premises go to pot just because of a puissant POTUS. Who will suffer? Guess again.

 

[BotanyBoy]

Team Tromp's obvious plot: deport all allegedly undocumented farmworkers from California, Oregon, Washington, driving the blue states' economies into chaos to punish their liberal elites.

You mean illegal aliens?

Maybe blue states and their liberal elites should start following federal laws.

 

[Que]

You mean illegal aliens?

Maybe blue states and their liberal elites should start following federal laws.

I wonder why they are opposed to paying "undocumented" workers "living wages" plus all applicable taxes and required insurance?

 

[Sean Renaud]

They cite that and yet California's economy keeps growing and Silicon Valley is still here.

 

[BotanyBoy]

I wonder why they are opposed to paying "undocumented" workers "living wages" plus all applicable taxes and required insurance?

Same reason California hasn't created a uber welfare state, opened it's borders to the whole of Earth and taken out the tab on their tax payers.

The economic reality of all their do-gooder feel good warm n' fuzzy bullshit would brutalize 'the narrative' to badly and publicly.

And even the biggest Kool-Aid chuggers know it. .

 

[Sean Renaud]

Well part of that is we aren't capitalists, they would open their borders.