I love coming to California, but every time I do recently, rich guys tell me that they're leaving for Texas or Florida. Recent tax hikes have increased the highest marginal rate to 57% and that seems to be a breaking point. Apparently, Sacramento is worried enough that they're considering a 10% exit tax for those who leave the state. I talked to one guy last night who has already moved as much as he could out of the state in anticipation of this exit tax.
So, if you're a rich guy, and you don't want the state taking everything you work for, we in Florida welcome and appreciate you.
So, if you're a rich guy, and you don't want the state taking everything you work for, we in Florida welcome and appreciate you.
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