Top state income tax rate in California now 13.3%

[EL PRESIDENTE]

Prop 30 passed.

The new normal is coming.

 

[magnifier661]

Yeah I figured shit was gonna hit the fan now that I saw the votes favoring the Democrats. Well California; I may move our corporation to Nevada now.

 

[The_Lillard_King]

I think they should all come up to Oregon and drive our housing market through the roof.

 

[BLAZER PROPHET]

Unbelievable.

WA has a 9% sales tax and no income tax. OR has an income tax that caps at, I think, 11% and no sales tax. In CA, now it's both a 7.5% sales tax and a 13% income tax.

The new norm indeed.

 

[EL PRESIDENTE]

Unbelievable.

WA has a 9% sales tax and no income tax. OR has an income tax that caps at, I think, 11% and no sales tax. In CA, now it's both a 7.5% sales tax and a 13% income tax.

The new norm indeed.

actually the sales tax is going up. I mean in LA its 8.75 and its going up 1/4 cent every year now for the next 4.

 

[BLAZER PROPHET]

I wonder how this will effect the CA economy, as in businesses and people leaving the state.

 

[OSUBlazerfan]

I wonder how this will effect the CA economy, as in businesses and people leaving the state.

It's ok, there will be plenty illegal citizens to replace them

 

[EL PRESIDENTE]

Yeah I figured shit was gonna hit the fan now that I saw the votes favoring the Democrats. Well California; I may move our corporation to Nevada now.

You should consider moving your entire operation over. Big, unskilled labor market and unemployment in LV. Prime for manufacturing. I know some people who are exploring the possibility as well.

 

[magnifier661]

I wonder how this will effect the CA economy, as in businesses and people leaving the state.

That is a guarantee. Our company is contiplating moving to Florida or Nevada. I personally think more businesses will bolt too.

 

[maxiep]

What's funny is that California will blow through any extra revenue they receive from that proposition in no time. Our firm pulled out of CA six years ago and won't even look at an investment in that state.

 

[magnifier661]

You should consider moving your entire operation over. Big, unskilled labor market and unemployment in LV. Prime for manufacturing. I know some people who are exploring the possibility as well.

We are debating on moving to Nevada or Florida.

 

[Denny Crane]

The money's supposed to go to schools, right?

I bet the money will end up in govt. workers' pension plans instead.

It's just a matter of time.

 

[EL PRESIDENTE]

What's funny is that California will blow through any extra revenue they receive from that proposition in no time. Our firm pulled out of CA six years ago and won't even look at an investment in that state.

Its going to pay for Teacher Pensions. of course they say its "for the kids".

 

[magnifier661]

The money's supposed to go to schools, right?

I bet the money will end up in govt. workers' pension plans instead.

It's just a matter of time.

Just like the "Lottery revenue" was supposed to go to schools.

"The net effect of say earmarked education lottery revenue on education expenditures is close to zero," said Clotfelter

http://www.cbsnews.com/8301-18563_162-57407364/where-does-mega-millions-money-go-after-the-jackpot/

 

[maxiep]

We are debating on moving to Nevada or Florida.

Nevada is just a delaying move. It will be California in a decade. Move to Texas.

 

[Natebishop3]

"For the kids" has become a punchline.