Why are People Leaving CALIFORNIA?

Why are people leaving California? Most of the problems are caused by the leadership's decisions and mismanagement.

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California used to be considered the most desirable state to live in for many. People all over the world were drawn to California’s golden shores.

However California of today is very different from what it was even a few decades ago.

The truth is that the state has been showing signs of decline for years, but it hasn’t hit a critical point until the events of 2020 pushed these problems into overdrive.

Right now there are a few trends that are unfolding that might form the perfect storm and push California over the edge in 2021. And many businesses and families who sense what’s lying ahead, are packing up and moving out.

From the 70s until about 2010, California saw a massive migration into the states both domestically and from abroad, however recently less and less people are willing to leave their home states to move to California.

In fact, since 2011, the net domestic migration has been negative. Meaning that more people move away from California than move in from other states. The state is still growing in population, because of the birth rate and international migration, but domestic residents are rapidly moving out.

While California collects large amounts of taxes from various industries, it relies on it’s abundant tech and entertainment industry millionaires and billionaires, who support the various government programs in California. Even though California taxes millionaires and billionaires higher than most states, for a time we saw that higher taxes did not detract millionaires from moving to California, because their money making potential was still increased, even with the higher tax rate.

However that changed in 2012 after the implementation of proposition 30, which imposed a higher tax rate on incomes, topping out at a 3% increase on incomes above $1 million for married couples. After the proposition passed, the likelihood of wealthy residents fleeing the state increased by about 40%.

So what do you think? I’d love to hear your opinion. Did I accurately express the issues that are forcing people to move? Do you think I’m being too harsh on California? If you live outside of California, would you welcome droves of us moving into your state?

I’d love to know, please leave a comment and consider subscribing.

Видео Why are People Leaving CALIFORNIA? канала Wes Roth