California Tax Hike Sparks Millionaire Migration

Screen Shot 2013-02-02 at 10.07.10 AMIn a desperate attempt to get California’s budgetary nightmares under control, Democratic Governor Jerry Brown pushed for a tax hike plan last November to increase the state’s overall tax rate on millionaires to the highest in the nation at 13.3%.  But now, experts say Brown’s actions may be sparking a tax migration for the high income earners whom the state relies on to pay its bills.

“You’d be a fool not to leave California,” says Ed Botowsky of Chapwood Investments who manages the finances of several professional athletes and high income Californians.  Botowsky says some of his clients have already made the decision to flee the state to avoid the tax crunch.

Seven states including Florida, Texas, and Nevada do not have a state income tax.  That can mean big savings for millionaires willing to make the move.  Tiger Woods’s move from California to Florida will save him an estimated $7.5 million in taxes this year alone.  His golf rival, Phil Mickelson, who recently expressed concern over California’s tax squeeze, could save $8 million this year by following Tiger’s lead.

Read more at breitbart.com

  • lara

    todd i bet if you worked hard and struggled you wouldnt want to support the leeches either…..

    • 7papa7

      He is a lib, he probably doesn’t work he only pushes for the redistribution of wealth. He thinks that because he breaths he is entitled to what others make. This is typical liberal thinking. Margret Thatcher asked the question, what do you do then when you have taken all the money from the wealthy??? Libs are stuck on stupid and as long as they continue to get what they didn’t earn they will continue down the road of destruction.

  • harry mole

    todd is just here (as with all libtards) to throw rocks at the hornets nest…aren’t ya todd?

  • Betty Weaver Woods

    You’re welcome to move to Texas as long as you aren’t Liberal dems.

  • TLady62

    And meanwhile, our local paper here in San Diego ran a front-page story two weeks ago stating the Governor believes California’s future ‘is looking bright’. The next day the editorial page featured a cartoon with Moonbeam wearing rose-colored glasses.
    Of course, the political cartoonist nailed it.

  • http://www.facebook.com/people/Diane-Staggs/1588311502 Diane Staggs

    Aw, you guys are depressing me. I HAVE to live in CA. I’d RATHER live in Texas but it looks like honeybunny’s employer is staying in Point Mugu. Well, if I MUST stay here then I will stay here and FIGHT. I WILL FIGHT ON THE LAND, I WILL FIGHT ON THE SHORE, IN THE AIR OR ABOUT THE AIR, I WILL FIGHT SOLAR ENERGY AND GLOBAL WARMING CLAPTRAP WHERE EVER I FIND IT! (I love watching the Military Channel!)

  • S.H.

    The only reason you say something like that, is cause you are one of the lazy leaches that thinks everyone owes you something!! I work hard for what I have and I don’t expect anything from anyone nor do I feel entitled to someone elses money!

  • mikeinidaho

    And you are a lazy piece of crap leech. Putz.

  • Marine68

    Todd, they did not steal it!! unlike the selfish parasites that don’t mind taking it from the ones that earned it (another form of theft) through Taxes. You must be one of them, and if you are, better become useful soon; because the productive victims are getting ready to stop being victims. Have you considered subsistence farming?

  • TLady62

    Say Todd, have you ever met any poor person who could hire you to do a job?

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