California Dreaming – How to Leave & Fast

Once upon a time, they use to write songs about California Dreaming. It is now turned 180 degrees to the main dreaming in California is how to get out of the same. You just cannot keep raising taxes endlessly reducing the standard of living of the people and survive indefinitely. It is official. The net migration leaving California is showing up not just in the statistics, rental cars leaving the state, but now at least 1800 businesses have packed their bags and left headed to Texas or Florida.

You still see a lot of new construction in Dallas for office space going up around town. It gives the impression that there is no recession in the United States as we see in Europe and Asia. To a large extent, much of the boom in Texas and Florida is being driven by the net migration leaving California, Illinois, New York, and New Jersey – just to mention a few. The people are leaving the high tax regions and move to the states with no state income tax.

Philadelphia has also a city income tax. Worse yet, they want an income tax from people just visiting. They are taxing sports players per game in Philadelphia and that is also one of the reasons why we will never again hold a conference in Philadelphia. They demanded an income tax from us just to hold a conference in their city. They cannot understand that this type of taxation imposed upon people bringing business to the city for an event will only cause them to hold their events elsewhere.

Of course, those in government lack common sense. There lies the real problem. People ask me gee are you still forecasting doom and gloom? They prefer someone who predicts wonderful times ahead even if it is no true. Will we survive? Of course! These are the times that force change on government. Unfortunately, they will never reform until they are absolutely forced to do so.

Latest Posts

US GDP & Recession into 2028

QUESTION: Mr. Armstrong, Socrates correctly picked March as the Directional Change, and it looks like there will be a sharp decline into June. Are you expecting a serious recession with [...]
Read more

See You Next Month?

See you in precisely one month at the London Economic Confidence Model Seminar! Can’t attend in person? Keep reading to learn about our virtual ticket option. Prepare to embark on [...]
Read more

Russia Responds Precisely on Target

Nearly $300 billion worth of confiscated frozen Russian assets have been set to the side by the West. Some of the world’s leading decision-makers have been urging the powers that [...]
Read more