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It's started - Exodus from CA
At least in my life, it's started.
My first friend and associate to leave - certainly no the last. He's a heavy hitter, probably 3-500K per year. Sophomore and Junior in college. So long CA. Closed escrow on a house in TN. I guess your dollars go a long way there. He's only 51 - will work from there. He's a broker, and will come back a few times a year, but will document his time out of the state. Every dinner party etc. I go to now this is always discussed.
Much lower cost of living in TN. State income tax rate is less than half that in CA. Electricity is 37% less. He automatically gets a raise the day he moves!
The higher earners in this state are particularly mobile. Not so much the poor or the state and municipal workers. Who will pay their salaries in the future?
Will the last one out please turn out the lights...
__________________
David
1972 911T/S MFI Survivor
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