Will California's Increase in Taxes Lead to Out-Migration by the Rich?

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02/06/2013

Will California's Increase in Taxes Lead to Out-Migration by the Rich?

David Geffen is confident that the answer is "no". Here is a quote from today's NY Times.

Some of those earners seem at least resigned to the tax burden as a cost of being able to live in California rather than, say, Texas.

“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. Mr. Geffen 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.”

Posted by Matthew E. Kahn on 02/06/2013 at 04:48 PM | Permalink

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Posted by: Imgcan6 | 02/15/2013 at 05:50 AM

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