It has no state income tax, low corporate taxes, does just enough regulating to get the job done, cares for the environment without making a fetish of it, lets its legislature meet for a relatively short period just once every two years, keeps the executive branch slim and trim and is a right-to-work state where unions don't get to grab dues through governmental coercion. (boldface mine--Darren)
OK, I highlighted two great points, but is there anything in that quote that's a "bad thing"?
Update, 6/19/11: California is losing companies (and jobs) in droves, and Texas is the top destination. Chart and further information here.
I'm stuck by the last paragraph of the article.
ReplyDelete... as a new USA Today report shows, the government's entitlement pledges (mainly to Medicare and Social Security) grew so much last year that they now exceed anticipated revenues by $61.6 trillion, or $534,000 per household. Does anyone actually believe that, even if some tax increases done through reform might help, we can tax our way out of this?
Also not noted is legal reform signed by George Bush in the late 90s. A 750K limit on punitive damages reduced medical mal-practice insurance by a reported 40%. Doctors want to practice here...as opposed to CA, NY, IL, or even Mississippi.
I read that article as well. It seems that California doesn't understand why businesses want to leave and blame it on some sort of poaching or other such nonsense by low tax business friendly states. I guess the bottom line was in the story linked below. When Carl's Jrs cannot find an atmosphere conducive to building and opening stores which would provide both jobs and taxes to California, their only alternative is to move out. The CEO is looking at Dallas or Houston.
ReplyDeletettp://www.dallasnews.com/business/headlines/20110131-carls-jr.-parent-considers-moving-its-headquarters-to-texas.ece