At the California Republican Convention I visited with former Presidential Candidate Mitt Romney. As FR readers probably know, Governor Romney bought a house in La Jolla.
We talked about various things over the 20 minutes or so we spoke. One thing really stood out. He said he was not going to be in California more than six months less one day.
Why? He didn’t want to be declared a resident because there is about a 5% difference in the tax rate for “wealthy” people between Massachusetts and California. And that was before the surtax and increases recently approved by the Legislature and Governor Schwarzenegger.
Massachusetts fondly referred to, as Taxachussets by conservatives is now a tax haven for Mitt Romney.
California doesn’t get it. If you tax the “wealthy” more than those around you they will leave or make sure they pay their taxes in another state. Ask Mitt Romney, Tiger Woods or go door to door in Incline Village.
California needs a new sign on our border.
Welcome to Taxifornia!
February 26th, 2009 at 12:00 am
These are the (sometimes dated) FACTS before the new taxes take effect!!!
Highest State income tax in the Nation. 9.3% at $45,000. 10.3% at $1,000.000
Highest State sales tax in the Nation. 7.25%
Highest State gas tax in the Nation. 45.5 cents per gallon.
Highest State car tax in the Nation. 0.65% per year on value of vehicle.
State/Local Tax Burden Above National Average. 6th Highest.
Corporate tax rate is the highest in the West. 8.84%
2009 Business Tax Climate Ranks 48th in the Nation.
http://www.taxfoundation.org/research/topic/15.html
1 in 5 in LA County receiving public aid.
http://www.latimes.com/news/local/la-me-welfare22-2009feb22,0,4377048.story
California Prison Guards highest paid in the Nation.
http://www.caltax.org/caltaxletter/2008/101708_fraud1.htm
California Teachers highest paid in the Nation.
http:www.census.gov/Press-Release/www/releases/archives/facts_for_features_special_editions/001737.html
NOTE: The NEA website has more up to date figures, coming to the same conclusion.