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Tuesday, April 17, 2012

Yeah, Let's Punish The Rich!

Well, ask the liberal geniuses who have run California for decades how that's working out.

From "California Blazes Wrong Trail On Tax Hikes For Rich":
Between 1992 and 2008, California suffered a net loss of 869,000 tax filers. About 3.5 million moved into California, while 4.4 million left.

Those that left were disproportionately wealthy.

So California lost wealthier, more productive residents. And poorer, less-productive folks took their places — some of them, at least.

Smothered under a growing thicket of taxes and regulations, the Golden State's entrepreneurs and top earners have sought friendlier climes — taking their incomes and the taxes they pay with them.

For many people, moving out of California is equivalent to getting a big raise — because their tax rates plummet. Of the top nine states Californians are flocking to, the average top personal income tax rate is 3.44%. California's is nearly triple that, at 10.3%.

Also, among those nine states, the corporate tax rate averages 4.59% vs. California's 8.84%. And their combined state and local tax burden is 9%, versus California's 11%.
Yeah, you liberals showed them! You made those fatcats move to Texas!

And, if Obama has his way, their next destination will be Geneva.

Yeah, you showed them all right.

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For a primer on how growth - in economic prosperity and government tax revenue - can actually be achieved, look to Sweden (!).