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re: #TaxCABillionaires CA has the highest taxes in the nation. CA could raise more money by reducing taxes. Counter-intuitive but when you reduce fees, volume increases. The rich are fleeing CA because of high taxes. Unbundle the government. Let's see what we're paying for.

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Jesse Powell

@jespow

Jul 17, 2020

Anecdotally, I don't know any millionaires who have moved to California but I know 10+ who have moved out in the last 5 years. The capital gains rate is the real killer in CA. If you have a windfall coming, you can buy a nice house in another state for the amount you'll save.

Baseball is Fun

@FunIsBaseball

Jul 17, 2020

Do you know any that moved to CA and became millionaires?

Replying to

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Yes, lots. CA has loads of opportunity between Hollywood and Silicon Valley. It's a millionaire making machine but it's in spite of CA's policies. It would be great to hold on to these people and have them reinvest in the state rather than move away to spend their money elsewhere

7:32 PM · Jul 17, 2020Twitter Web App

Jillian

Replying to

and

This argument is bad. 1) pay living wages to workers 2) high taxes are necessary & didn’t stifle innovation for decades before congress lowered them. 3) name one other country with similar demographics/infrastructure & lower taxrate where rich ppl will flee to: it doesn’t exist.

Replying to

and

I know you’re giving the state version as an option, but not everyone, including rich people, wants to live somewhere just cuz the taxes are lower. Idk. I personally know many CA millionaires and a couple billionaires, and not everyone hates paying their fair share of taxes.