"California is in serious trouble because many people refuse to admit to one of our big problems - the flight of businesses, capital and jobs to other states and nations. Businesses are shrinking their California footprint because high taxes and intense regulation damage their ability to compete.
The top states gaining our businesses since January 2009 show Texas in the top spot, followed by Arizona, Colorado, Nevada, Virginia and Utah. Also, companies have moved functions to Taiwan, Mexico, Brazil and Chile. The jobs include R&D, which used to be a California hallmark. Now we're seeing unusual losses."
Tuesday, September 21, 2010
Thanks, Califorinia---we will take your cast-offs---Texans LIKE jobs!!
If you increase the cost of doing business, you will increase the loss of business. Businesses do need to pay taxes and follow regulations, yes, no doubt, I get that. But when taxes and/or regulations become too onerous or unnecessary then you will have business flight, not only at the margin, but deep into the core. Options abound--another state or another country...I am not a lackey for business--I am a lackey for economic recovery and prosperity. Gotta have businesses to do that---As you were, California, continue---we in Texas are happy to pick up you throw-aways... (HT: Carpe Diem and Joseph Vranich)
at 6:53 PM