skipro33
Thinks s/he gets paid by the post
No pants? What do the neighbors say?
The wimmen, they scream. And grown men curse.
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No pants? What do the neighbors say?
Low income and young people without high levels of education are leaving, the wealthy and better educated are moving in. Most of the people who have left made under $30K.
https://www.sandiegouniontribune.co...thy-people-per-report-20180221-htmlstory.html
"Of those who left during the latest years for which statistics exist, the vast majority earned less than $30,000 per year. A net total of 469,000 of those leaving had no college degree. Given the prevailing levels of rents and home prices in California, it’s easy to see their financial motive in leaving for far lower-priced states like Texas, Nevada, Oregon and Arizona. But as lower-income residents left there was a net increase of 52,700 residents from other states making more than $50,000 per year who do have at least a bachelor’s degree"
https://www.davisenterprise.com/forum/opinion-columns/whos-leaving-california-its-not-who-you-think/
Low income and young people without high levels of education are leaving, the wealthy and better educated are moving in. Most of the people who have left made under $30K.
https://www.sandiegouniontribune.co...thy-people-per-report-20180221-htmlstory.html
"Of those who left during the latest years for which statistics exist, the vast majority earned less than $30,000 per year. A net total of 469,000 of those leaving had no college degree. Given the prevailing levels of rents and home prices in California, it’s easy to see their financial motive in leaving for far lower-priced states like Texas, Nevada, Oregon and Arizona. But as lower-income residents left there was a net increase of 52,700 residents from other states making more than $50,000 per year who do have at least a bachelor’s degree"
https://www.davisenterprise.com/forum/opinion-columns/whos-leaving-california-its-not-who-you-think/
mod edit - a snippet
A new study published in the journal Social Science Research finds that Americans report greater levels of happiness in states that spend more money on public goods such as parks, libraries, infrastructure and public safety.
This. If I had the choice, I'd rather defer my taxes until after I die. The money I had left at the end is money that I had saved for an economic disaster that didn't occur. Once I'm dead, I don't need that money any more.
That said, if one state has an unusually high estate tax, that state certainly runs the risk of older, wealthier people leaving just to avoid the tax. That type of risk is much lower for a federal tax.
But those days are coming to an end, by the very people they support and the need for never ending new sources of revenue. Instead of just taking income, they will come after accumulated wealth. It will be at first for those edge cases, like the "super" wealthy who have more than $5 million, or a 'transaction tax' to grab some of those windfall profits associated with capital gains, or maybe just a grab at additional taxes on capital gains.
If only poor folks are leaving, what accounts for the huge run up in home prices in Denver, Boise, Portland, Bend, Seattle, Reno, Phoenix, and Prescott? All those places are big destinations for former Californians. No one making $30k a year is buying a house in any of those places. Meanwhile, a lot of the inbound migration is from Mexico, Central America, Southeast Asia, India, China, and the Philippines. Some of these people are highly educated and bring wealth with them. The majority, probably not.
Are you speculating or do you have some inside information?