Home Headline News Government - Politics REPORT: Democrats Worry As Wealthy People Flee California Over High Taxes

REPORT: Democrats Worry As Wealthy People Flee California Over High Taxes

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People have a tendency to vote on policy with their feet. If the policies in one state are bad, they move to another state with better policies. In Liberal California, wealthy people are fleeing the state due to high taxes and it has Democrats very worried.

The Sacramento Bee reports:

Wealthy exodus to escape new tax rules worries California Democrats

The Republican-backed federal tax bill flipped the tables on a never-ending question for California politicians: Will high taxes lead the state’s wealthiest residents to flee the Golden State for the comparable tax havens of Florida, Nevada and Texas?

The state’s wealthiest 1 percent, for instance, pay 48 percent of its income tax, and the departure of just a few families could lead to a noticeable hit to state general fund revenue.

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