over and above baseline rates of taxpayer departure from California, an additional 0.8% of the California residential tax filing base whose 2012 income would have been in the new top tax bracket moved out from full-year residency of California in 2013, mostly to states with zero income tax… Among top-bracket California taxpayers, outward migration and behavioral responses by stayers together eroded 45.2% of the windfall tax revenues from the reform.
Maybe productive members of our society believe that they can do a better job of spending their money than Sacramento “Train to Nowhere” politicians and bureaucrats can? And that they shouldn’t be forced to work to work half the year to pay for their elected officials’ spending additions?
Here’s the study abstract (text is a paid purchase): https://www.nber.org/papers/w26349
Maybe productive members of our society believe that they can do a better job of spending their money than Sacramento “Train to Nowhere” politicians and bureaucrats can? And that they shouldn’t be forced to work to work half the year to pay for their elected officials’ spending additions?