Here’s a surprise

Californians favor taxing “the rich” rather than cut school spending. What these bong-sniffing dreamers still don’t get is that there aren’t enough rich people left in the state to support the rest of them and there will be still fewer in the years ahead when these tax increases hit.

And then they will turn on each other.

Bad link before – sorry!

23 Comments

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23 responses to “Here’s a surprise

  1. Demmerkrat Patriot

    If the rich residents are leaving every, single state due to high taxes, where are they all going?

  2. Peg

    Next thing you know, they’ll make it illegal for those earning over $100,000 a year to leave the state. What else can they do?

    Today, California; tomorrow, East Berlin!

  3. Skuke

    FYI: Link broken.

    Facebook’s Zuckerberg is rich enough to get the whole state out of hock but what does he do, gives money to Newark, NJ. Go figure.

  4. Cos Cobber

    And yet Nokia announces today that its closing down its White Plains NA HQ in the next 18 months and moving those few hundred jobs elsewhere. They also said they leased 156,000 sq ft in Sunnyvale CA as part of its efforts to get back into the high tech phone market.

    NYC and San Jose are interesting in that companies will overlook the high cost of living, taxes and doing business for the local talent. Of course, all other moderate and low margin business have to scramble out of these places, but for the high margin…its still makes sense…..surprising even me.

  5. Cobra

    You knockin’ bong-sniffing dreamers?

  6. pulled up in OG

    “If they’d put half the talent they’ve displayed in protecting their own power into running the country, we’d be living in paradise.”

    Ireland, but no different here

    http://www.irishtimes.com/newspaper/opinion/2011/0426/1224295457992.html.

  7. State of Shock

    Texas

  8. My rant

    Before you pity the rich some more (btw, I don’t consider someone who earns $200,000 a year to be rich), here are a few interesting statistics for you to contemplate. My apologies that this information isn’t through 2010, which would only serve to strengthen the point:

    From 1994-2006, a period of tremendous economic expansion in America, the bottom 10% of wage earners had a salary increase of 3%. During that same 12-year period, the salaries of the top 10% of wage earners rose 52%, the top 1% of wage earners rose 86%, and the top 1/10 of 1% of wage earners rose 112%. Can you imagine what these figures translate to in DOLLARS!! (sorry, but I don’t have the figures handy).

    Is it any wonder that Obummer and company are trying to claw back? Greed and selfishness at the top of countless professions is the real problem. After all, who controls worker salaries??? We are looking at a revolution if the rich keep trying to deny that the majority of people in this country aren’t invited to the party (not just the lazy and stupid for whom I have little sympathy—especially if they breed recklessly!!)

    The point is, the rich are screwing themselves, ultimately.

  9. Peg

    Apparently the Demmerkrat isn’t aware that some states have no income tax?

  10. Peg: Those people who earn more than 100k will simply stop earning 100k+ (a/k/a going Galt), then, once below the imprisonment income threshold, they’ll leave the state for some friendlier place that actually values their productivity.

  11. DP, who ever said people were leaving every single state? How would that even be possible, unless they were emigrating completely? They’re going to states with growing populations. Mostly right to work, low tax burden states.

    http://en.wikipedia.org/wiki/List_of_U.S._states_by_population_growth_rate

  12. Cos Cobber

    Dear My Rant, take a look at the global economy. How did the bottom 10% fair in Switzerland, England or any other high cost nation? You need to look at it, this is a global issue for all high cost nations.

    The gap between the haves and have nots has many factors, but one that is overlooked is globalization. Most of the fortune 500 have a enormous portion of their revenue stream earned overseas these days and that will only continue. Bigger top line numbers support bigger top line pay. Furthermore, as business has grown more sophisticated with faster product cycles and more risk and reward. Those that directly affect the bottomline are going to see the rewards (ie CEOs, inventors, creators, anyone that can affect the bottomline).

    What we have today is very much what our professional sports look like. Take a look at any roster and payroll in Football, Baseball, Basketball or the NHL. Teams pay a super premium for anyone that can give them an advantage. A premium for anyone with an edge. Business today isnt too different. Once you get our the trenches, this becomes the clear paradigm on compensation. People who can push the bottomline get more, alot more.

    How do we regulate this? We already have a very progressive tax code.

  13. sw

    Approximately 160k households in CA pay 46% of California’s income taxes!! Population of 38 million and only 160k households pay WHAT percent of the State income taxes?!? These people will surely flee.. and fast. I heard the CA State Treasurer (Lockyer) speak to a group of muni bond investors two weeks ago and this obnoxious, offensive jerk went on a big, huge, anti-Republican rant, speaking to the room of roughly 100+ professionals, and at the end of his rant he said..”and you know what I have to say to all of them…? FUCK YOU!!”. No joke. I and many in the room almost fell off our chair. No wonder CA is such a mess. This guy is an elected official just starting his 2nd term as Treasurer, he’s a former State Atty General and former CA State Assemblyman.. he’s been in State politics since 1973. And people wonder what’s wrong with California.

  14. Inagua

    sw – Most won’t flee in part because of the relatively low property taxes and in part because of the sheer joy of living here. For example, Dennis Miller, who complains a lot about taxation and could live anywhere, is in the process of building his third very large house here (one is on the market.)

  15. State of Shock

    Dear My Rant:

    If you look at the history of the US you will see that the distribution of wages is consistent over time. The US was built on meritocracy. The US owes its success to this meritocracy. Obama and his band of merry thieves want to move away from meritocracy to socialism. However, with the rise of the BRICs and the aging of our population, the US as you know it will look very different in 12 years. The path we are on is unsustainable.

  16. Cobra

    Dennis Miller has also said, as I recall, that when his total tax bill exceeds 50% of his income, he’ll move to a more reasonably taxed state.

  17. Cos Cobber

    Lets face it, the Dems have taken full tax advantage of their good weather.

  18. Inagua

    Dennis Miller says that a lot on his radio show. But what he actually does is quite differernt. He is building what I estimate to be at least a $20 million house around the corner from me. And he already owns two other extemely nice houses in town, one in the mountains and one on the beach.

  19. dogwalker

    State of Shock,

    Where did you get the information about the distribution of wages being consistent over time? It is contrary to what I have read. If you are talking about on average over the very long term, perhaps; but that is not a very meaningful way of looking at it.

    And asserting that the US was built on meritocracy and that the US owes its success to “this meritocracy” (whatever the heck that is) paints a picture that is incomplete to the point of inaccuracy.

    Quick question – Is there any sense of morality in your idea of the US meritocracy? Would that include spending thousands upon thousands of dollars of bed linens every months while your gardeners’ families meet the income criteria for social relief programs, for example?

  20. Bed linens? That seems out of nowhere.

    But it is funny you mention “the gardeners.” The bills gardeners and landscapers charge (assuming you aren’t using the kid down the street for $20.00) certainly seem high enough to me that these companies would be able to pay decent wages to their employees. Also, last time I checked, gardeners aren’t slaves–don’t people choose their own source of income? Unless, of course the workers are hired illegally (how much English do yours speak?). To me, that was an interesting example you chose to mention.

    I guess it’s not PC to say and believe that those who work hard should be compensated for it, and those who do not work and do not attempt to get work probably shouldn’t feel like those who do should pay all their bills. But that’s how I feel. I’m all for social service, but NOT for those who take advantage of the system for their entire lives.

    I also think that if you work hard you should be able to spend your money on whatever you want to buy with it, whether it’s food or bed linens. I guess that makes me a jerk or something. Oh well.

  21. Cos Cobber

    My landscaping company charges a fortune, yes far more than the $15 to $20 an hr a high schooler would want…plus, btw only in lower FF County would high schoolers get nearly triple the min wage for landscaping (when I came from it was never more than 1.5X min wage). I guess I am suppose to feel good about that.

    I hope all those who are sympathetic to the low skill – low pay jobs are generous with compensation like they wish others to be. I always find it funny when the worst tippers among my friends are the democrats at the table.

  22. sw

    Inagua,
    I’m responding a bit late… the majority of Californian’s do not pay low property taxes, only those who have owned their homes since Prop. 13 passed in 1978 and their taxes only have increased 2% per year since then. You say “here” so you must live HERE in California where I live and own a home since 2003 and I pay $26k per year for a condo in San Franciscod that I paid $1.5mm for, that’s not what I call low property taxes.. our property tax is based upon sale price=market value=assessed value. You need to make at least $200+ per year in this town to survive with 3 kids… and I’d never use public schools here they are terrible and they bus your kindergartener to far off neighborhoods.. no thanks. So… why do we live here.. no clue.. it’s home I guess. I’m a NY er transplant like everyone else.. married a native SF er.

  23. sw

    Oh.. and I meant to say that Dennis Miller is a gazillionaire… and of course he can live where he wants.. and pay what he wants for property.. and buy all he wants in Santa Barbara.. I love him and his thoughts.. but he is not your average Californian.