Californians fleeing excessive taxes and regulations
The NCPA Policy Digest reports:
. . . Major findings . . .
- The latest Census Bureau data indicate that in 2005, 239,416 more Californians left the state than moved in; this was also the case in 2003 and 2004.
- The native-born outmigration flows have become so systematic that the cost to rent a U-Haul to move from Los Angeles to Boise, Idaho is $2090 — or some six times more that the cost of moving in the opposite direction.
What\’s gone wrong with the Golden State? A big part of the story is a tax and regulatory culture . . . The cost for businesses of complying with California’s rules, regulations, and paperwork is more than twice as high as other states. But the real growth killer is California’s steeply “progressive” income tax with 10.3 percent rate applied to high-income residents — the highest in the nation outside New York City . . .