Saturday, July 7, 2018

Millionaires Flee California After Prop 30 Tax Hike

This happens every time Democrats raise taxes. 
As a result the people who remain in the state end up getting their taxes raised to to make up for the shortfall.
Forbes reports according to new research released by Charles Varner, associate director of the Stanford Center on Poverty and Inequality, California lost an estimated 138 high-income individuals following passage of the Proposition 30 income tax increase championed by Gov. Jerry Brown (D) and approved by Golden State voters in 2012. 

This new research by Varner updates a previous paper released six years ago that looked at domestic migration to and from California following a 2004 income tax hike. 

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