High Taxes = Outbound Migration By Millionaires
Ms. Castillo's and Jerry Brown's socialistic attacks on the wealthy have so dramatically impacted California, that according to
new research from Stanford University and members of the California Franchise Tax Board, California lost an estimated 138 high income individuals due to the passage of the
Proposition 30--a tax hike pushed by Gov. Jerry Brown and approved by voters in 2012,
ZeroHedge.com reported. Prop. 30 retroactively raised taxes on the state's highest earners to 13.3%, leaving California top-earners with the highest state income tax rate in the country. It also hiked the tax rate on income between $300,000 and $500,000 by 2%, while raising the tax rate on income over $500,000 by 3%.
"How viable are millionaire taxes when lower-tax states are a short distance away?" the study asks. "Can states sustain these new millionaire taxes without suffering out- migration of top tax payers? How attached are millionaires to the places where they currently earn their income?"
Water Lies
Droughts are nature's fault; they are naturally occurring. Water shortages are the fault of government officials, and California's water shortages fall squarely on Jerry Brown. The state of California hasn't significantly invested in water storage since the 1970s when Jerry Brown was governor the first time around. "This is an era of limits and we all had better get used to it," Brown said upon being elected governor in 1975, embracing the "small is beautiful" way of thinking. Since then, California's population has doubled, as have environmental demands. And, more than fifty-percent of the state's water resources are allowed to flow out the San Francisco Bay to the Pacific Ocean.
Rather than build the desperately needed infrastructure projects to collect and store water during the wet years, Gov. Jerry Brown recently signed into law a new water conservation act that will limit each citizen to just 50 gallons per person per day by 2050. According to the San Jose
Mercury News, Governor Brown "signed two bills,
SB 606 by Sen. Robert Hertzberg (D-Van Nuys) and
AB 1668 by Assemblywoman Laura Friedman (D-Glendale), that require cities, water districts, and large agricultural water districts to set strict annual water budgets, potentially facing fines of $1,000 per day if they don't meet them, and $10,000 a day during drought emergencies, Daily Wire
reported