Leaving CA because of high taxes? -- here's who will take your place (Monterey: vacation home, transfer)

[Dean Trails]

Originally Posted by nullgeo

No. None of the above relates to the point of the topic.
The "premise" is to demonstrate that people who suggest that if taxes rise California will become a wasteland of illegals and welfare enrollees and minimum-wage working class are not thinking clearly. .

Well that ain't gonna happen! If the rich don't come to live in California then the illegals and welfare recipients willl relocate to other sunnier climates.
My bright idea is that with all the South of the Border types no longer there, it makes the southern locales pretty attractive.

A friend just retired from the US Postal Service. He has a nice pension. He is moving back to his roots in the Phillipines. I asked why after so many years in America he would make such a leap. His reply was, "I can live a much higher lifestyle. Medical care is pretty good now and where else can I have a mansion, a cook, maid and chauffeur?"

So , it all appears to be relative. The French millionaires may find California to be their own slice of the third world.

[Reason42]

The relative lack of retorts on this tread troubles me... I'm sure more than it does Nullgeo...


hmmm, but I believe I understand why....

In months and years past, I likely would have taken Null's bait (or similar taunt from the "California cheerleaders")...

...but I.... ...I yield... ...I cannot delude myself further...

...you "win"; I will quietly continue to work and save; but I will eventually "shrug" and argue with my feet...

Truthfully, I have no choice... My profession and that of my wife's will soon no longer be rewarded in this state.

I will not argue. You win Nullgeo...


I only hope that the silence is a retort you will ponder.

[.highnlite]

Originally Posted by Reason42

The relative lack of retorts on this tread troubles me... I'm sure more than it does Nullgeo...


hmmm, but I believe I understand why....

In months and years past, I likely would have taken Null's bait (or similar taunt from the "California cheerleaders")...

...but I.... ...I yield... ...I cannot delude myself further...

...you "win"; I will quietly continue to work and save; but I will eventually "shrug" and argue with my feet...

Truthfully, I have no choice... My profession and that of my wife's will soon no longer be rewarded in this state.

I will not argue. You win Nullgeo...


I only hope that the silence is a retort you will ponder.

So you will move to a low tax state? That is fine, will you live in a city? Well then it matters not where you live, all cities are about the same. But, if the countryside, or rural lands interest you, remember the heat and humidity east of the 100th meridian can take the starch right out of your shirts.

Keep in mind too, that on an income of $100,000 per year, your total tax burden in CA will be $10,600, and in the lowest tax states it will be around $7-7500. Not much a difference, and if someone told me it would cost me an extra $4,000 bucks a year not to have to live in Texas, or Florida, or Missouri etc, I would consider that money well spent.

[oldtrader]

The better off people, and many companies are fleeing California for other states where the taxes are much more fair to them, regulations that are excessive, and where the cost to do business is lower. Average 5 businesses leaving per week. Many of these businesses are quite large and take a lot of jobs with them. Many better middle and upper income population leaving the state.

Lets look at the results:

California has the 49th highest unemployment rate in the nation.

Welfare expenditure per capita, is third highest in the United States only behind Washington D.C. and New York State.

White population has rapidly fallen to only 41% of the population, which shows how the effects of people fleeing the state with money, and those with better education leaving the state for better job opportunities as the jobs leave the state. The upper and middle class white population has been decreasing and in many instances being replaced by poor minority population.

New York has the same problem as they have raised taxes on the better off population they have fled the state in huge numbers, being replaced by poorer residents.

Just as the rich and middle class are preparing to leave France, the rich and middle class are fleeing California for the same reasons.

[.highnlite]

Originally Posted by oldtrader

The better off people, and many companies are fleeing California for other states where the taxes are much more fair to them, regulations that are excessive, and where the cost to do business is lower. Average 5 businesses leaving per week. Many of these businesses are quite large and take a lot of jobs with them. Many better middle and upper income population leaving the state.

Lets look at the results:

California has the 49th highest unemployment rate in the nation.

Welfare expenditure per capita, is third highest in the United States only behind Washington D.C. and New York State.

White population has rapidly fallen to only 41% of the population, which shows how the effects of people fleeing the state with money, and those with better education leaving the state for better job opportunities as the jobs leave the state. The upper and middle class white population has been decreasing and in many instances being replaced by poor minority population.

New York has the same problem as they have raised taxes on the better off population they have fled the state in huge numbers, being replaced by poorer residents.

Just as the rich and middle class are preparing to leave France, the rich and middle class are fleeing California for the same reasons.

Thank you for that oldtrader, can you think of any more ways to get people to leave the state? What do you think, double cigarette taxes? Inquiring minds etc.

[TurcoLoco]

Wealthy people didn't get where they are by paying 35%+ of their actual income...current income taxes typically effect those who are in slightly above middle class, middle and slightly below middle class. Real rich people find ways to pay less than what they should while the ones in poverty are actually getting $$.

France President is out of his mind but since majority will not be affected and corporation , unlike in the States, do not actually have control over the government, this might actually pass.

Funny how the entire world is suffering and paying for the current economic meltdown yet those who are responsible, especially the ones in the US, for this worldwide financial nightmare were not jailed?
Instead, they're enjoying equally if not better paying positions, some under Obama's administration even. This whole thing is like a "You scratch my back, I scratch Yours" type of game to them.

[Think4Yourself]

Originally Posted by nullgeo

A lot of chatter here about how the wealthy and businesses are "leaving California in droves" due to taxes. "Vote HELL NO!" etc etc etc ... "only the low income will be left behind" ... etc etc etc.

Think so?

Wealthy French entrepreneurs are preparing to leave France if the new proposed rate there takes effect. Read the article. Any whining sound familiar? Point being: there are a LOT of folks who would love opportunity to move to California. Chinese wealthy by the boatload, too.

Go ahead and get out, whiners. Unfortunately, there will always be many to take your places. Look at the international tax rates on the sidebar chart. Read a bit about the financial / tax attorneys who work advising Europe's rich.

http://www.nytimes.com/2012/08/08/bu...pagewanted=all

I'd much rather have the French as neighbors than some morbidly obese Rush Limbaugh listening idiot who babbles nonsense and blames minorities for all problems while he sits on his but sucking up medicare and social security.

Heck, at least the Frenchmen would actually work and pay taxes.

[Think4Yourself]

Originally Posted by MrTudo

We're actually considering california for retirement and no we're not rich.

There are still a great many places in California where a couple can retire quite reasonably and live an excellent quality of life, with good services near by (medical, sports teams, theaters, museums, parks, beaches, etc...), and not pay a lot in taxes. If you make about the median then the taxes between the supposedly low tax and supposedly high tax states is very minimal. Personally, if I was retiring I would much rather live in beautiful California enjoying the wonderful weather and excellent quality of life rather than living in a hot barren hell hole with no amenities like Texas just to save 1%-2%.

That's just me though.

[TVC15]

Originally Posted by Think4Yourself

There are still a great many places in California where a couple can retire quite reasonably and live an excellent quality of life, with good services near by (medical, sports teams, theaters, museums, parks, beaches, etc...), and not pay a lot in taxes. If you make about the median then the taxes between the supposedly low tax and supposedly high tax states is very minimal. Personally, if I was retiring I would much rather live in beautiful California enjoying the wonderful weather and excellent quality of life rather than living in a hot barren hell hole with no amenities like Texas just to save 1%-2%.

That's just me though.

No amenities? Houston is a world class city with all the amenities and the best Medical Center on this planet! Clueless about TX indeed.

You have zero concepts on the amount of taxes one would be saving by retiring in a state that does not tax you on your retirement or pension and has no state income tax and lower taxes overall.

1-2%

CA -All private, local, state and federal pensions are fully taxed.
TX- Retirement Income: Not taxed.

That right there is more than a 1-2% savings.

Add on the higer sales taxes and fees that are outrageous in CA vs. TX and again this is far more than a 1-2% savings.

If you're going to post at least post accurate information.

I am sure that many people would like to retire in CA but financially it does not make sense and with the direction this state is headed the next 10-20 years ought to be interesting.

[.highnlite]

Originally Posted by TVC15

No amenities? Houston is a world class city with all the amenities and the best Medical Center on this planet! Clueless about TX indeed.

You have zero concepts on the amount of taxes one would be saving by retiring in a state that does not tax you on your retirement or pension and has no state income tax and lower taxes overall.

1-2%

CA -All private, local, state and federal pensions are fully taxed.
TX- Retirement Income: Not taxed.

That right there is more than a 1-2% savings.

Add on the higer sales taxes and fees that are outrageous in CA vs. TX and again this is far more than a 1-2% savings.

If you're going to post at least post accurate information.

I am sure that many people would like to retire in CA but financially it does not make sense and with the direction this state is headed the next 10-20 years ought to be interesting.

I suggest you spend some time at tax foundation . org,, your thinking is in error.

My wife and I moved here from another state upon retirement. No other state offers the variety of stuff to do and visit.

I don't expect to go to Texas unless god discovers all my sins when I croak.

Choosing a state for the quality of its healthcare strikes me as odd, 50 years of life in the Sierra Nevada would be far better than 150 years of life in gawdforsaken Texas.