California has high taxes, but rich not leaving
Very much like the Wall Street Journal article mentioned in my previous post, there’s a NY Times article today about how California has the highest state taxes in the nation, and Governor Rick Perry of Texas is saying that Californians should move to Texas to escape the taxes, but the article doubts that rich people are going to move.
“I am happy to pay my taxes, whatever they are: no problem with me,” said David Geffen, the entertainment mogul, who owns estates on the oceanfront in Malibu and on the hedge-lined streets of Beverly Hills. He said he thought it could hurt the business climate, but added, “I don’t think anybody of means is really going to move because of it.”
What’s between the lines is that the vast majority of rich people would rather pay high taxes than have to live in a state full of rednecks and Jesus freaks.