Gavin Newsom addresses the nation

  • Thread starter Thread starter dukeman92
  • Start date Start date
  • Replies: 1K
  • Views: 23K
  • Politics 
lawtig02 said:
It’s pretty damn strong. Along with a bunch of other blue states.
www.statista.com

Real per capita GDP by state U.S. 2024| Statista

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2024, at 92,341 U.S.
www.statista.com www.statista.com
Click to expand...
Are the rich leaving California?


AI Overview
1760064725957.png
1760064725969.jpeg
1760064725978.png
+4

Young rich workers flee New York and California—where they're ...
Yes, data from the US Census Bureau and the Public Policy Institute of California (PPIC) indicates that higher-income, well-educated Californians are leaving the state, a trend that accelerated during the pandemic. This "wealth migration" is driven by factors like high state income taxes, the high cost of living, and a desire for more affordable lifestyles in states like Texas and Florida, leading to significant tax revenue losses for California.

Key Reasons for Leaving
  • High Cost of Living:
    California has a high cost of living, particularly for housing, which prompts some residents to seek more affordable options in other states.

  • High State Income Tax:
    California has the highest state income tax in the country, which can significantly increase the tax burden on high-earning individuals.

  • Remote Work Opportunities:
    The rise of remote work during the pandemic allowed some professionals to move to lower-tax states with a better quality of life.
Impact on California
  • Loss of Tax Revenue:
    The departure of high-income earners leads to a significant net negative outflow of wealth and tax revenue from the state.

  • Economic Effects:
    This loss of top earners could negatively impact job creation and the state's overall economy.

  • Shift in Demographics:
    While overall migration patterns are complex, the loss of high-income households represents a significant change from past decades when California attracted wealthier residents.
Where They Are Going
  • States like Florida, Texas, Nevada, and Arizona are popular destinations for wealthy Californians.

  • Many high-income residents are moving to states with no state income tax, such as Texas and Florida.
When did California start declining?


AI Overview
1760064981330.png
1760064981343.png
1760064981354.png
+7

Has California Gone Downhill in the Past Few Decades ...
California began a noticeable period of "going downhill" for many residents around the late 1980s and early 1990s, marked by a combination of factors including business and military base closures, economic recession, increased taxes and regulations, and rising housing costs, all contributing to population outflow and declining quality-of-life perceptions.

Key Factors and Timeframes
  • Late 1980s/Early 1990s:
    This period saw the beginning of a downward trend, with a recession stemming from the end of the Cold War and significant military base closures.

  • Post-1990:
    The end of the Cold War led to a substantial drop in defense spending, creating a severe recession and causing an exodus of about 1.5 million people from the state.

  • Economic and Fiscal Challenges:
    From a budget surplus to a projected deficit, California has struggled with fiscal issues.

  • Cost of Living:
    High housing costs and a generally high cost of living are significant drivers for people leaving the state.

  • Regulatory Environment:
    Businesses cite concerns about overregulation and high taxes, which have led many companies to relocate their headquarters to other states.

  • Population Decline:
    The state has seen a population decrease in recent years, reversing over a century of growth, a trend linked to high costs, rising crime, and a worsening homelessness problem.

  • Political Landscape:
    Some attribute the decline to political factors, such as one-party rule leading to political arrogance and a disconnect from the populace's needs.
 
lawtig02 said:
It’s pretty damn strong. Along with a bunch of other blue states.
www.statista.com

Real per capita GDP by state U.S. 2024| Statista

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2024, at 92,341 U.S.
www.statista.com www.statista.com
Click to expand...
Population losses by state (July 2023 - July 2024)
  • New York: Lost the most residents, with a numeric loss of 101,984 people.

  • California: Experienced a six-figure decline in resident population.

  • Illinois: Also saw a significant loss of residents.
All blue states I believe.
 
Callatoroy said:
Population losses by state (July 2023 - July 2024)
  • New York: Lost the most residents, with a numeric loss of 101,984 people.

  • California: Experienced a six-figure decline in resident population.

  • Illinois: Also saw a significant loss of residents.
All blue states I believe.
Click to expand...
Might want to double-check the numbers and look at the context.
 
Callatoroy said:
But there isn’t a R candidate in the primary. Unless you think your preferred candidate couldn’t beat the R candidate in the general election.
Click to expand...
Right, but people are concerned about the WH, not primary, and Newsom, on a surface level, it's totally "presidential" material.
 
Last edited:
pspsps said:
Desirable places to live end up creating the conditions of their own downturns, though usually only temporarily. Desirability is demand, demand raises prices.
Click to expand...
Well, sure.

But the blacks and immigrants and Muslims are the real problem. They’re taking all the jobs, eating all the pets, and raping all the white girls.
 
rodoheel said:
Because other states are cheaper and have lower taxes.
Click to expand...
So why would someone want to vote for an individual who led the collective legislation efforts that made taxes and the cost of living so high that it causes businesses and residents to want to leave? There will likely be 5 to 8 people from the left to run in the dem primary. What makes someone go yea, he’s my choice? I will say he is putting in the effort to copy trump’s style, move to the center, and keep his name in the news, but it seems so fake.
 
Callatoroy said:
So why would someone want to vote for an individual who led the collective legislation efforts that made taxes and the cost of living so high that it causes businesses and residents to want to leave?
Click to expand...
It’s funny that you think the cost of living and high taxes occurred on Newsom’s watch.

California has always had high taxes and a higher cost of living. It comes with the territory of being the richest and most populated state in the union.

It was that way under Ronald Reagan as well.
 
WaynetheDrain said:
It’s funny that you think the cost of living and high taxes occurred on Newsom’s watch.

California has always had high taxes and a higher cost of living. It comes with the territory of being the richest and most populated state in the union.

It was that way under Ronald Reagan as well.
Click to expand...
I don’t think it started with newsome. Newsome just added to it as if it’s just accepted fact that it is supposed to be that way. He is the poster child for it though because the 1990’s were a long time ago.
 
You must log in or register to reply here.
Back
Top