Editorial: California as No. 1 Tax Jurisdiction

http://online.wsj.com/article/SB121625150189660215.html

Lucky us!

We will quickly surpass NY as highest taxed state. As if the high cost of living just wasn't enough.

Very will written editorial though.

If this passes, the income tax rate (top tier) will jump from 9% to 12% in just a few short years. The business climate is already terrible here with the high taxes. It was before they bumped it from 9% to 10%. Since then it has certainly been downhill.

Reminds me of that little story about how when you tax the wealthy too much they stop coming to the table. California is illustrating this quite beautifully.

I know people probably roll their eyes when I say that I would rather live on less and keep more, than make twice as much and pay ten times the taxes. I am just now *getting* that maybe other people don't get that so much because they are in other states and making a decent wage doesn't mean 50% to the government.

Around here? Literally if I made $200k (easy enough if dh and I both took management level jobs), half would go to the government.

I am quite happy to make more like $75k and keep most of it.

It's a LOT less effort.

As such, I will stick around. If I ever made real money though, not sure I could take it any more. I'd flee the state too.

Anyway, I've had a few clients with New York income and I always cringe at all the taxes. (Isn't there a city income tax too - in NYC?).

So it's just extra crazy to think we want to be worse than that. Ugh.