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  • Leftists Never Have Enough Of Our Money...

    California Democrats want businesses to give half their tax-cut savings to state

    SACRAMENTO — California lawmakers are targeting the expected windfall that companies in the state would see under the federal tax overhaul with a bill that would require businesses to turn over half to the state.

    A proposed Assembly Constitutional Amendment by Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families.

    http://www.sfgate.com/bayarea/articl...f-12508742.php
    Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

    https://www.youtube.com/watch?v=Jbnueb2OI4o&t=3s

  • #2
    Originally posted by seer View Post
    California Democrats want businesses to give half their tax-cut savings to state
    That's one way to counteract the tax cut for the wealthy bill. Besides it's not your money seer, you're not a corporation, you live in Conneticutt.

    Comment


    • #3
      Originally posted by seer View Post
      California Democrats want businesses to give half their tax-cut savings to state
      And they wonder why businesses are pulling up stakes and moving out of California.











      Smiley squirrel.gif XXXXXXXXXXXXXXXXXXXXXx HAPPY SQUIRREL APPRECIATION DAY! XXXXXXXXXXXXXXXXXXXXXx Smiley squirrel.gif

      I'm always still in trouble again

      "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
      "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
      "Of course, human life begins at fertilization that’s not the argument." --Tassman

      Comment


      • #4
        Originally posted by JimL View Post
        That's one way to counteract the tax cut for the wealthy bill. Besides it's not your money seer, you're not a corporation, you live in Connecticut.
        Are you kidding Jim, the leftists are ruing my state - the wealthy and businesses are leaving in droves because of confiscatory tax rates. The liberals will wreck this state as well as California.
        Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

        https://www.youtube.com/watch?v=Jbnueb2OI4o&t=3s

        Comment


        • #5
          Originally posted by seer View Post
          California Democrats want businesses to give half their tax-cut savings to state
          I have not had a chance to examine the bill. I do know that the federal tax bill that was passed in December disproportionately targets blue states over red states. Blue states tend to tax higher (and also get less federal funding) and red states tend to tax lower (and get more federal funding). Therefore, the part of the tax bill that limits the deduction for state and local taxes will primarily hit blue states (and at least one Republican senator gloated over "sticking it to the Northeast") and benefit red ones. It's a politically smart move, but somewhat unscrupulous. The bill also heavily favors large businesses (their tax breaks do not sunset) and not so much smaller businesses (their tax breaks do sunset). Yes, there is a "promise" that they will be extended, but Congress cannot guarantee that because they don't know what future congresses will do, leaving smaller businesses not knowing how long they will have the cuts, but larger businesses better able to plan.

          It appears to me that California is looking to rebalance that a bit. So these companies get half as much as they were expecting from the federal bill. Somehow, I doubt it will "ruin" the state. Claims that taxation is going to "ruin the state" have been made for years. The state that came closest to being ruined by tax policy was Kansas, and it was because they CUT taxes to the bone, and the programs those taxes funded with them. Indeed, we have several examples now of what happens in the real world when this "small government, slash taxes" policy is implemented: the economy actually shrivels until a reasonable balance is restored.

          Too much taxation is bad. Too little is also bad.
          The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King

          I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas

          Comment


          • #6
            Originally posted by rogue06 View Post
            And they wonder why businesses are pulling up stakes and moving out of California.
            New York tried the same thing several years ago, attempting to close a budget shortfall by raising taxes on the "rich". This naturally resulted in the "rich" fleeing the state (people with money tend to be the most mobile), and the end result was that New York's budget shortfall was even greater the following year. Liberals always seem surprised when people change their behavior in response to government policy.
            Some may call me foolish, and some may call me odd
            But I'd rather be a fool in the eyes of man
            Than a fool in the eyes of God


            From "Fools Gold" by Petra

            Comment


            • #7
              Originally posted by Mountain Man View Post
              New York tried the same thing several years ago, attempting to close a budget shortfall by raising taxes on the "rich". This naturally resulted in the "rich" fleeing the state (people with money tend to be the most mobile), and the end result was that New York's budget shortfall was even greater the following year. Liberals always seem surprised when people change their behavior in response to government policy.
              Looking for a repeat in 2019 then. Gov. Cuomo has proposed $1 Billion in new fees in his 2018 budget.
              "For I desire mercy, not sacrifice, and acknowledgment of God rather than burnt offerings." Hosea 6:6

              "Theology can be an intellectual entertainment." Metropolitan Anthony Bloom

              Comment


              • #8
                Originally posted by rogue06 View Post
                And they wonder why businesses are pulling up stakes and moving out of California.
                The "rich fleeing high-tax states" mantra has been repeatedly shown to be largely a myth: https://www.theguardian.com/inequali...naires-threats
                The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King

                I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas

                Comment


                • #9
                  Originally posted by carpedm9587 View Post
                  The "rich fleeing high-tax states" mantra has been repeatedly shown to be largely a myth: https://www.theguardian.com/inequali...naires-threats
                  It's not the number of rich that move that's the concern, it's how much money they take with them when they do. It doesn't take many rich folks leaving a high-tax state to have a dramatic impact on a state's bottom line. In extreme cases, it only takes one.

                  Source: GOPNEws

                  April 2016, TRENTON, N.J. (UPI) — New Jersey is facing a possible budget shortfall after the state’s richest resident, hedge fund entrepreneur David Tepper, moved to Florida, state officials said.

                  The state’s tax collections will be $162.1 million short of Gov. Chris Christie’s expectations, in part due to Tepper’s move, the nonpartisan Office of Legislative Services said. State lawmakers met Tuesday to review Christie’s $34.8 billion budget proposal for fiscal year 2017.

                  http://www.gopusa.com/new-jersey-fac...es-to-florida/

                  © Copyright Original Source


                  Also, moving out of state is not the only way people can keep the government's hands off their money:

                  Source: New York Post

                  (August 2009) WELL, what do you know? After raising taxes on high-income households by up to 31 percent, New York state is collecting far less income tax than it had anticipated just a few months ago. That drop in tax receipts is a major reason why a $2.1 billion hole has just opened in the state’s 2009-10 budget.

                  [...]

                  Problem is, wealthy households now have a growing incentive to shelter, defer and move around income in anticipation of federal tax hikes that could raise the combined statewide marginal tax rate in New York to nearly 50 percent.

                  https://nypost.com/2009/08/03/the-high-tax-trap/

                  © Copyright Original Source


                  So bureaucrats can increase taxes on the wealthy all they want. Just don't expect the wealthy to sit idly by while the bureaucrats attempt to take it.

                  Source: USA Today

                  (December 2012) American Enterprise Institute economists Kevin Hassett, Andrew Biggs and Matthew Jensen examined the experiences of 21 Organization for Economic Cooperation and Development (OECD) countries between 1970 and 2007. They found that countries with successful fiscal reforms, on average, closed 85% of their budget gaps with spending cuts. The countries with failed reforms, on average, relied at least 50% on tax increases. President Obama's strategy falls firmly in the latter camp. After discounting the accounting tricks that create fictitious spending cuts, the president's plan would impose about $3 in tax hikes for every $1 in spending cuts.

                  That is, his approach would probably land America in the "failed attempt" column. Five years down the line, we would be in the same fiscal mess we are in today, just with higher taxes and a bigger government.

                  Second, tax hikes aimed at small segments of the population wouldn't raise much in revenues. Consider the "Buffett Rule" that the president spent many months promoting. According to the Joint Committee on Taxation, it would raise about $47 billion over a decade. The federal government currently spends about $4 billion more per day than it takes in. The Buffett Rule, then, would raise about enough next year to cover 28 hours of government overspending. Heritage Foundation economist Curtis Dubay finds that closing the deficit solely by raising the two highest tax brackets would require hiking them to 159% and 166%, respectively.

                  Third, as economists and business executives have noted repeatedly, raising taxes on families earning over $250,000 per year is effectively a massive tax hike on small businesses. Most small businesses today organize as S-corporations or other pass-through entities; their income is taxed as personal income. A study by Ernst and Young shows that Obama's proposed tax hike would force these small businesses to eliminate about 710,000 jobs. Moreover, these households already bear a great deal of tax liability. According to the most recent Internal Revenue Service data, those earning $250,000 and above -- roughly 2% of all taxpayers -- earn 22% of income, but pay 45% of all federal income taxes.

                  Simply put, increasing tax rates on the wealthy is not a serious approach to solving America's fiscal woes. The problem is purely one of excessive spending, not inadequate taxing.

                  https://www.usatoday.com/story/opini...-work/1746531/

                  © Copyright Original Source


                  Long story short: raising taxes on the wealthy is not the answer to bad government budgting; never has been, and never will be.
                  Some may call me foolish, and some may call me odd
                  But I'd rather be a fool in the eyes of man
                  Than a fool in the eyes of God


                  From "Fools Gold" by Petra

                  Comment


                  • #10
                    Originally posted by carpedm9587 View Post
                    The "rich fleeing high-tax states" mantra has been repeatedly shown to be largely a myth: https://www.theguardian.com/inequali...naires-threats
                    From the California Business Journal:

                    Source: WHY $15B CORP FLEES CALIFORNIA


                    For Tax Purposes. What Else?

                    How important is it for businesses to be in a tax-friendly state?

                    It’s everything.

                    Even the breathtaking beaches, the dazzling mountains and national parks, the beautiful hot desert, the Silicon Valley influence — and the most gorgeous weather in the world — isn’t even to keep businesses from fleeing the Golden State of California because of high taxes.

                    Add Jacobs Engineering Group Inc. to the list.

                    One of the world’s top engineering and architecture firm, Jacobs has approximately $15 billion in revenues.

                    This is a huge finance kick in the groin to California.



                    Source

                    © Copyright Original Source




                    From the Pasadena Star News

                    Source: How many businesses have left California? This report claims to have an answer


                    California’s costly tax and regulatory policies prompted more than 10,000 businesses to leave the state, reduce their operations or curtail plans to locate here between 2008 and 2015, according to a report from Spectrum Location Solutions.

                    The Irvine-based company conducts site-selection studies and other assessments to help businesses relocate to optimum states and locales for their operations. Some of their clients include corporations that have relocated out of California, like Honda.

                    Many companies that move away or reduce their operations aren’t tracked

                    The report, “California Business Departures: An Eight-Year Review 2008-2015,” reveals that at least 1,687 California disinvestment events occurred during that period, a count that reflects only those that became public knowledge.

                    And for every disinvestment that became known — either through media reports, company announcements or company reports to the U.S. Department of Labor, the Securities and Exchange Commission or the California Employment Development Department — another five occurred, the report said.



                    Source

                    © Copyright Original Source




                    From KCRA 3 in Sacramento

                    Source: Two dozen companies commit to leaving California


                    Two dozen California companies have said they are tired of the business-bashing in Sacramento, along with the high taxes -- and they are now threatening to leave the state.

                    The day after Proposition 30 passed, triggering $6 billion in new annual taxes, Arizona launched a campaign to lure some of California’s top companies.

                    KCRA 3 has learned that 24 chief executives are flying to Phoenix, Ariz., to explore the land of lower taxes and a much friendlier business environment.

                    “We can deliver the mayors, we can deliver the CEOs, we can deliver the legislative support,” said Barry Broome, president of the Greater Phoenix Economic Council.

                    Broome launched his campaign to recruit California CEOs one day after voters in the Golden State approved Prop 30 last November, and the campaign is working.

                    Broome said 24 CEOs already have committed to leaving California.



                    Source

                    © Copyright Original Source




                    From Investor's Business Daily

                    Source: Another Big Company Departs California — Will Last One To Leave Shut The Lights?


                    Nestle USA is moving its headquarters from Glendale, Calif., a pocket suburb just miles from downtown Los Angeles, to Rosslyn, Va., near Washington, D.C., and taking 1,200 California jobs with it. Why? As many companies have found, California is an awful place to do business.

                    The $26-billion-a-year food conglomerate is discreet, of course, about its reasons, citing a desire to be closer to its core customers and other bland corporate pabulum. But the fact is, Nestle and its corporate brethren in California that actually make things are overtaxed and overregulated, and elected officials treat them not as honored members of the community but as rapacious pirates.

                    A Glendale official, for instance, blithely insisted Nestle's departure was no big deal, but rather an "opportunity." Some opportunity.



                    Source

                    © Copyright Original Source




                    From the Orange County Register

                    Source: List names 100 companies leaving California


                    An Irvine business relocation specialist has come up with a list of 100 California companies that have expanded elsewhere or pulled up stakes entirely in this decade.

                    Almost a fourth of the companies have — or should I say “had” — Orange County ties.

                    “It’s no mystery what causes companies to leave California: High taxes, undue regulation, workers’ comp costs, a legal environment stacked against businesses and lengthy and costly construction permitting requirements,” says list compiler Joseph Vranich, president of JV Executive Consulting Inc. in Irvine.

                    Keep in mind that these departures are on top natural business attrition (closures, mergers and acquistions) and bankruptcy filings: Orange County has the 5th highest in the nation, according to Equifax and eight of the 14 top metropolitan areas are in California.



                    Source

                    © Copyright Original Source




                    From Fox & Hounds[1]

                    Source: Misguided State Policies Lead To More Companies Leaving California


                    This spring marks the first anniversary of the announcement that Carl’s Jr., a California burger icon for more than six decades, was relocating its headquarters to Nashville. It’s yet another business that has quit California in what was once an almost quiet exodus of companies but now looks more like a stampede.

                    The list of businesses abandoning California for more hospitable business environments reads like a roll call of top companies. Toyota is in the process of leaving Torrance and will complete the move of its U.S. headquarters to Dallas by the end of 2017. Also having left for Dallas is Jacobs Engineering Group, $6.3 billion firm formerly based in Pasadena that has more than 230 offices across the world, employs 60,000 and generates $12 billion in annual revenue.

                    Other companies that have left, or are pricing moving van rates, are Nestle (leaving Glendale to reboot its U.S. headquarters in Rosslyn, Va.), Nissan North America (left for Nashville a decade before Carl’s Jr. did), Jamba Juice (traded San Francisco for Frisco, Texas), Occidental Petroleum (prefers Houston over Westwood for its headquarters), Numira Biosciences (Irvine, no – Salt Lake City, yes) and Omnitracs, a software firm (goodbye San Diego, hello Dallas).

                    From 2007 through 2015, as many as 9,000 companies have left California, according to Joe Vranich, president of Spectrum Location Solutions in Irvine. And no one should wonder why. Just by simply putting California behind them, these companies are saving 20 percent to 35 percent a year in operating costs, Vranich says.



                    Source

                    © Copyright Original Source




                    From National Review

                    Source: Why Businesses Leave California


                    The Golden State’s hostile business environment continues to drive thousands of companies away.

                    For most of the 20th century, California was a place that people and companies moved to in search of opportunity. The Golden State still has its beautiful climate and technically skilled workforce, but today these things are not enough to prevent companies from leaving the state. A new study seeks to quantify the trend of companies fleeing California and determine how, and to what extent, it is caused by California’s hostile business environment.

                    The study was conducted by Joseph Vranich, the president of Spectrum Locations Solutions, a site-selection consultancy based in Irvine, Calif. Using publicly available records, mostly media and government reports, Vranich searched for what he calls “California divestment events” — business decisions to shun the state. These come in three types: companies that left the state entirely; companies that expanded in other states rather than in California; and a few companies that had planned to grow in the Golden State but changed their minds.

                    Vranich found records of 1,510 divestment events occurring in California between 2008 and 2014, but that number is an incomplete accounting of the situation. “Experts in site selection generally agree that at least five events fail to become public knowledge for every one that does,” he writes, concluding that the real total is probably more than 9,000 divestment events for this period.

                    Even that estimate may not tell the full story. Small businesses are less likely to get media coverage when they relocate, but they are the biggest category of divestment events. Moreover, the cost and compliance burdens of California’s taxes and regulations fall disproportionately on smaller companies, which are less able to afford the teams of attorneys and accountants that mega-corporations can employ. As Carly Fiorina has ably pointed out during the GOP debates, big government tends to benefit big business.

                    To no one’s surprise, Texas was the main beneficiary of California divestment events during each year of the study. After Texas, the top destinations for escaping California businesses were, in order, Nevada, Arizona, Colorado, Washington, Oregon, North Carolina, Florida, Georgia, and Virginia.

                    California’s elected officials dismiss stories about businesses leaving the state as anecdotal propaganda, but it’s hard to argue with the 200-plus pages of divestment events that Vranich’s report lists. Vranich has been conducting similar studies and publicly sharing his findings about thousands of ex-California companies since 2010, yet despite all the evidence, Governor Jerry Brown has made several public statements over the past few years denying a “mass exodus” of California businesses.

                    Brown has a long history of making excuses when businesses reject his state. When Toyota announced it was uprooting three California plants and consolidating its headquarters in Plano, Texas, the Wall Street Journal quoted Brown as saying, “We’ve got a few problems, we have lots of little burdens and regulations and taxes. But smart people figure out how to make it.” The Journal’s retort: “California’s problem is that smart people have figured out they can make it better elsewhere.”



                    Source

                    © Copyright Original Source



                    Businesses are loathe to tear up their company by the roots and relocate. It is extremely costly. It is just as risky. But when you're essentially being driven out by folks that see you as little more than a bank that they can keep robbing with impunity... They used to call this killing the goose that lays the golden eggs.











                    1. A blog "designed to discuss and explain the confluence of politics and business in California" that the Washington Post twice named as one of the top California political websites




                    Smiley squirrel.gif XXXXXXXXXXXXXXXXXXXx HAPPY SQUIRREL APPRECIATION DAY! XXXXXXXXXXXXXXXXXXXx Smiley squirrel.gif
                    Last edited by rogue06; 01-21-2018, 05:33 PM.

                    I'm always still in trouble again

                    "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                    "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
                    "Of course, human life begins at fertilization that’s not the argument." --Tassman

                    Comment


                    • #11
                      Originally posted by Mountain Man View Post
                      It's not the number of rich that move that's the concern, it's how much money they take with them when they do. It doesn't take many rich folks leaving a high-tax state to have a dramatic impact on a state's bottom line. In extreme cases, it only takes one.

                      Source: GOPNEws

                      April 2016, TRENTON, N.J. (UPI) — New Jersey is facing a possible budget shortfall after the state’s richest resident, hedge fund entrepreneur David Tepper, moved to Florida, state officials said.

                      The state’s tax collections will be $162.1 million short of Gov. Chris Christie’s expectations, in part due to Tepper’s move, the nonpartisan Office of Legislative Services said. State lawmakers met Tuesday to review Christie’s $34.8 billion budget proposal for fiscal year 2017.

                      http://www.gopusa.com/new-jersey-fac...es-to-florida/

                      © Copyright Original Source


                      Also, moving out of state is not the only way people can keep the government's hands off their money:

                      Source: New York Post

                      (August 2009) WELL, what do you know? After raising taxes on high-income households by up to 31 percent, New York state is collecting far less income tax than it had anticipated just a few months ago. That drop in tax receipts is a major reason why a $2.1 billion hole has just opened in the state’s 2009-10 budget.

                      [...]

                      Problem is, wealthy households now have a growing incentive to shelter, defer and move around income in anticipation of federal tax hikes that could raise the combined statewide marginal tax rate in New York to nearly 50 percent.

                      https://nypost.com/2009/08/03/the-high-tax-trap/

                      © Copyright Original Source


                      So bureaucrats can increase taxes on the wealthy all they want. Just don't expect the wealthy to sit idly by while the bureaucrats attempt to take it.

                      Source: USA Today

                      (December 2012) American Enterprise Institute economists Kevin Hassett, Andrew Biggs and Matthew Jensen examined the experiences of 21 Organization for Economic Cooperation and Development (OECD) countries between 1970 and 2007. They found that countries with successful fiscal reforms, on average, closed 85% of their budget gaps with spending cuts. The countries with failed reforms, on average, relied at least 50% on tax increases. President Obama's strategy falls firmly in the latter camp. After discounting the accounting tricks that create fictitious spending cuts, the president's plan would impose about $3 in tax hikes for every $1 in spending cuts.

                      That is, his approach would probably land America in the "failed attempt" column. Five years down the line, we would be in the same fiscal mess we are in today, just with higher taxes and a bigger government.

                      Second, tax hikes aimed at small segments of the population wouldn't raise much in revenues. Consider the "Buffett Rule" that the president spent many months promoting. According to the Joint Committee on Taxation, it would raise about $47 billion over a decade. The federal government currently spends about $4 billion more per day than it takes in. The Buffett Rule, then, would raise about enough next year to cover 28 hours of government overspending. Heritage Foundation economist Curtis Dubay finds that closing the deficit solely by raising the two highest tax brackets would require hiking them to 159% and 166%, respectively.

                      Third, as economists and business executives have noted repeatedly, raising taxes on families earning over $250,000 per year is effectively a massive tax hike on small businesses. Most small businesses today organize as S-corporations or other pass-through entities; their income is taxed as personal income. A study by Ernst and Young shows that Obama's proposed tax hike would force these small businesses to eliminate about 710,000 jobs. Moreover, these households already bear a great deal of tax liability. According to the most recent Internal Revenue Service data, those earning $250,000 and above -- roughly 2% of all taxpayers -- earn 22% of income, but pay 45% of all federal income taxes.

                      Simply put, increasing tax rates on the wealthy is not a serious approach to solving America's fiscal woes. The problem is purely one of excessive spending, not inadequate taxing.

                      https://www.usatoday.com/story/opini...-work/1746531/

                      © Copyright Original Source


                      Long story short: raising taxes on the wealthy is not the answer to bad government budgting; never has been, and never will be.
                      Of course, the right assumes the move was motivated by taxes. Florida also has sunshine, warmer climes, and is one of the predominant retirement locations for poor and rich alike. So did anyone ask the man why he moved?

                      And few problems are due to a single cause. Too much taxation is a problem. To little taxation is a problem. Too much spending is a problem. Too little spending is a problem.
                      The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King

                      I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas

                      Comment


                      • #12
                        Originally posted by rogue06 View Post
                        From the California Business Journal:

                        Source: WHY $15B CORP FLEES CALIFORNIA


                        For Tax Purposes. What Else?

                        How important is it for businesses to be in a tax-friendly state?

                        It’s everything.

                        Even the breathtaking beaches, the dazzling mountains and national parks, the beautiful hot desert, the Silicon Valley influence — and the most gorgeous weather in the world — isn’t even to keep businesses from fleeing the Golden State of California because of high taxes.

                        Add Jacobs Engineering Group Inc. to the list.

                        One of the world’s top engineering and architecture firm, Jacobs has approximately $15 billion in revenues.

                        This is a huge finance kick in the groin to California.



                        Source

                        © Copyright Original Source




                        From the Pasadena Star News

                        Source: How many businesses have left California? This report claims to have an answer


                        California’s costly tax and regulatory policies prompted more than 10,000 businesses to leave the state, reduce their operations or curtail plans to locate here between 2008 and 2015, according to a report from Spectrum Location Solutions.

                        The Irvine-based company conducts site-selection studies and other assessments to help businesses relocate to optimum states and locales for their operations. Some of their clients include corporations that have relocated out of California, like Honda.

                        Many companies that move away or reduce their operations aren’t tracked

                        The report, “California Business Departures: An Eight-Year Review 2008-2015,” reveals that at least 1,687 California disinvestment events occurred during that period, a count that reflects only those that became public knowledge.

                        And for every disinvestment that became known — either through media reports, company announcements or company reports to the U.S. Department of Labor, the Securities and Exchange Commission or the California Employment Development Department — another five occurred, the report said.



                        Source

                        © Copyright Original Source




                        From KCRA 3 in Sacramento

                        Source: Two dozen companies commit to leaving California


                        Two dozen California companies have said they are tired of the business-bashing in Sacramento, along with the high taxes -- and they are now threatening to leave the state.

                        The day after Proposition 30 passed, triggering $6 billion in new annual taxes, Arizona launched a campaign to lure some of California’s top companies.

                        KCRA 3 has learned that 24 chief executives are flying to Phoenix, Ariz., to explore the land of lower taxes and a much friendlier business environment.

                        “We can deliver the mayors, we can deliver the CEOs, we can deliver the legislative support,” said Barry Broome, president of the Greater Phoenix Economic Council.

                        Broome launched his campaign to recruit California CEOs one day after voters in the Golden State approved Prop 30 last November, and the campaign is working.

                        Broome said 24 CEOs already have committed to leaving California.



                        Source

                        © Copyright Original Source




                        From Investor's Business Daily

                        Source: Another Big Company Departs California — Will Last One To Leave Shut The Lights?


                        Nestle USA is moving its headquarters from Glendale, Calif., a pocket suburb just miles from downtown Los Angeles, to Rosslyn, Va., near Washington, D.C., and taking 1,200 California jobs with it. Why? As many companies have found, California is an awful place to do business.

                        The $26-billion-a-year food conglomerate is discreet, of course, about its reasons, citing a desire to be closer to its core customers and other bland corporate pabulum. But the fact is, Nestle and its corporate brethren in California that actually make things are overtaxed and overregulated, and elected officials treat them not as honored members of the community but as rapacious pirates.

                        A Glendale official, for instance, blithely insisted Nestle's departure was no big deal, but rather an "opportunity." Some opportunity.



                        Source

                        © Copyright Original Source




                        From the Orange County Register

                        Source: List names 100 companies leaving California


                        An Irvine business relocation specialist has come up with a list of 100 California companies that have expanded elsewhere or pulled up stakes entirely in this decade.

                        Almost a fourth of the companies have — or should I say “had” — Orange County ties.

                        “It’s no mystery what causes companies to leave California: High taxes, undue regulation, workers’ comp costs, a legal environment stacked against businesses and lengthy and costly construction permitting requirements,” says list compiler Joseph Vranich, president of JV Executive Consulting Inc. in Irvine.

                        Keep in mind that these departures are on top natural business attrition (closures, mergers and acquistions) and bankruptcy filings: Orange County has the 5th highest in the nation, according to Equifax and eight of the 14 top metropolitan areas are in California.



                        Source

                        © Copyright Original Source




                        From Fox & Hounds[1]

                        Source: Misguided State Policies Lead To More Companies Leaving California


                        This spring marks the first anniversary of the announcement that Carl’s Jr., a California burger icon for more than six decades, was relocating its headquarters to Nashville. It’s yet another business that has quit California in what was once an almost quiet exodus of companies but now looks more like a stampede.

                        The list of businesses abandoning California for more hospitable business environments reads like a roll call of top companies. Toyota is in the process of leaving Torrance and will complete the move of its U.S. headquarters to Dallas by the end of 2017. Also having left for Dallas is Jacobs Engineering Group, $6.3 billion firm formerly based in Pasadena that has more than 230 offices across the world, employs 60,000 and generates $12 billion in annual revenue.

                        Other companies that have left, or are pricing moving van rates, are Nestle (leaving Glendale to reboot its U.S. headquarters in Rosslyn, Va.), Nissan North America (left for Nashville a decade before Carl’s Jr. did), Jamba Juice (traded San Francisco for Frisco, Texas), Occidental Petroleum (prefers Houston over Westwood for its headquarters), Numira Biosciences (Irvine, no – Salt Lake City, yes) and Omnitracs, a software firm (goodbye San Diego, hello Dallas).

                        From 2007 through 2015, as many as 9,000 companies have left California, according to Joe Vranich, president of Spectrum Location Solutions in Irvine. And no one should wonder why. Just by simply putting California behind them, these companies are saving 20 percent to 35 percent a year in operating costs, Vranich says.



                        Source

                        © Copyright Original Source




                        From National Review

                        Source: Why Businesses Leave California


                        The Golden State’s hostile business environment continues to drive thousands of companies away.

                        For most of the 20th century, California was a place that people and companies moved to in search of opportunity. The Golden State still has its beautiful climate and technically skilled workforce, but today these things are not enough to prevent companies from leaving the state. A new study seeks to quantify the trend of companies fleeing California and determine how, and to what extent, it is caused by California’s hostile business environment.

                        The study was conducted by Joseph Vranich, the president of Spectrum Locations Solutions, a site-selection consultancy based in Irvine, Calif. Using publicly available records, mostly media and government reports, Vranich searched for what he calls “California divestment events” — business decisions to shun the state. These come in three types: companies that left the state entirely; companies that expanded in other states rather than in California; and a few companies that had planned to grow in the Golden State but changed their minds.

                        Vranich found records of 1,510 divestment events occurring in California between 2008 and 2014, but that number is an incomplete accounting of the situation. “Experts in site selection generally agree that at least five events fail to become public knowledge for every one that does,” he writes, concluding that the real total is probably more than 9,000 divestment events for this period.

                        Even that estimate may not tell the full story. Small businesses are less likely to get media coverage when they relocate, but they are the biggest category of divestment events. Moreover, the cost and compliance burdens of California’s taxes and regulations fall disproportionately on smaller companies, which are less able to afford the teams of attorneys and accountants that mega-corporations can employ. As Carly Fiorina has ably pointed out during the GOP debates, big government tends to benefit big business.

                        To no one’s surprise, Texas was the main beneficiary of California divestment events during each year of the study. After Texas, the top destinations for escaping California businesses were, in order, Nevada, Arizona, Colorado, Washington, Oregon, North Carolina, Florida, Georgia, and Virginia.

                        California’s elected officials dismiss stories about businesses leaving the state as anecdotal propaganda, but it’s hard to argue with the 200-plus pages of divestment events that Vranich’s report lists. Vranich has been conducting similar studies and publicly sharing his findings about thousands of ex-California companies since 2010, yet despite all the evidence, Governor Jerry Brown has made several public statements over the past few years denying a “mass exodus” of California businesses.

                        Brown has a long history of making excuses when businesses reject his state. When Toyota announced it was uprooting three California plants and consolidating its headquarters in Plano, Texas, the Wall Street Journal quoted Brown as saying, “We’ve got a few problems, we have lots of little burdens and regulations and taxes. But smart people figure out how to make it.” The Journal’s retort: “California’s problem is that smart people have figured out they can make it better elsewhere.”



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                        Businesses are loathe to tear up their company by the roots and relocate. It is extremely costly. It is just as risky. But when you're essentially being driven out by folks that see you as little more than a bank that they can keep robbing with impunity... They used to call this killing the goose that lays the golden eggs.











                        1. A blog "designed to discuss and explain the confluence of politics and business in California" that the Washington Post twice named as one of the top California political websites
                        And despite ALL of that hype, California's economy continues to rank 6th or 11th, depending on how you count it, in the world. That is to say, if California was an independent economy, it would rank somewhere between 6th and 11th in the world. http://www.politifact.com/california...gest-economy-/

                        Apparently, they are doing something right.


                        Bottom line, you will always be able to find stories of companies leaving because of one disaffection or another. They are counterbalanced by all of the companies moving in AND starting up. Your list does not paint a balanced view. California's international standing does...
                        The ultimate weakness of violence is that it is a descending spiral begetting the very thing it seeks to destroy...returning violence for violence multiplies violence, adding deeper darkness to a night already devoid of stars. Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. Martin Luther King

                        I would unite with anybody to do right and with nobody to do wrong. Frederick Douglas

                        Comment


                        • #13
                          Originally posted by seer View Post
                          Leftists Never Have Enough Of Our Money...
                          That's true, you haven't given me any of your money yet. Post it all to me please. Thanks.
                          "I hate him passionately", he's "a demonic force" - Tucker Carlson, in private, on Donald Trump
                          "Every line of serious work that I have written since 1936 has been written, directly or indirectly, against totalitarianism and for democratic socialism" - George Orwell
                          "[Capitalism] as it exists today is, in my opinion, the real source of evils. I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy" - Albert Einstein

                          Comment


                          • #14
                            Originally posted by carpedm9587 View Post
                            Of course, the right assumes the move was motivated by taxes. Florida also has sunshine, warmer climes, and is one of the predominant retirement locations for poor and rich alike. So did anyone ask the man why he moved?

                            And few problems are due to a single cause. Too much taxation is a problem. To little taxation is a problem. Too much spending is a problem. Too little spending is a problem.
                            I can't help but feel you've missed my point.
                            Some may call me foolish, and some may call me odd
                            But I'd rather be a fool in the eyes of man
                            Than a fool in the eyes of God


                            From "Fools Gold" by Petra

                            Comment


                            • #15
                              Originally posted by carpedm9587 View Post
                              And despite ALL of that hype, California's economy continues to rank 6th or 11th, depending on how you count it, in the world. That is to say, if California was an independent economy, it would rank somewhere between 6th and 11th in the world. http://www.politifact.com/california...gest-economy-/

                              Apparently, they are doing something right.


                              Bottom line, you will always be able to find stories of companies leaving because of one disaffection or another. They are counterbalanced by all of the companies moving in AND starting up. Your list does not paint a balanced view. California's international standing does...
                              That's rating the relative size of California's economy, in other words, how many dollars they have to play with, not its economic health. In reality, California is spending way more than it brings in and is on the verge of bankruptcy. The only thing keeping it from tipping over are Federal dollars.

                              ----------

                              Of California’s $252.5 billion in total estimated government spending for fiscal year 2015, the federal government provided $93.6 billion, or 37 percent. That works out to a stunning $6,451 for every man, woman and child in the state.

                              The breakdown of California’s federal funding, by department, includes: 52 percent for Health and Human Services (Medicaid); an average of 25 percent of all state and local government’ general revenues for Labor and Workforce Development, 14 percent for Education; 6 percent for Transportation; 2 percent for Legislative, Judicial and Executive; and 1 percent for General Government, which includes Natural Resources, Environmental Protection, Corrections and Rehabilitation, State and Consumer Services.

                              Breitbart News reported in May that Moody’s Global Credit Research fiscal stress-tests found that California was already the least prepared large state to weather the next recession. The credit rating service followed up in August with a warning to municipal bondholders that the plummeting financial condition of many California counties, cities, school districts and other agencies would soon result in large numbers of municipal bankruptcy filings.

                              The only time in the last 40 years California that suffered a 3.7 percent or more of GDP decline was the 4.4 percent plunge in 2009 during the Great Recession. Given the state’s precarious financial condition, any cut-off of federal funds by the Trump Administration could bankrupt California and many of the state’s local government entities.

                              http://www.breitbart.com/california/...ng-bankruptcy/
                              Some may call me foolish, and some may call me odd
                              But I'd rather be a fool in the eyes of man
                              Than a fool in the eyes of God


                              From "Fools Gold" by Petra

                              Comment

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