Some guy who’s obviously not a union member, and not getting a pension check from California (so what good is he for this state?) is moving his company to East Coast:
Well, I am moving my new company — which is now closing a round of venture funding from world-class investors — to the East Coast. Because my last company created almost 200 jobs, most of which were in San Francisco, this is not good news for the State of California. As I write this, I am hiring people on the East Coast who might otherwise have been hired in California. Some have already been hired. My California employees will be relocating to New York by early next year.
One thing that’s booming with Prop 30 in place is Nevada real estate market. Yes, someone finally got the motivation to switch their zip code to Nevada, and paid $25.5 million for the privilege. This is great news for Schools & Local Safety Act supporters, as all those millionaires leaving will reduce the crime ratio (fewer people to rob) and increase good school accessibility, as they’ll take their rich kids with them and free up the spots in California’s over-burdened and under-unionized school system.
“A lot of factors have bubbled up to drive this,” she said, “including the passage of California’s Proposition 30 in November,” which raises personal income-tax rates for Californians making more than $250,000 a year and triggers a four-year hike in the state’s sales tax starting Jan. 1. Real estate agents say Silicon Valley’s current tech boom is also contributing to the trend, minting overnight millionaires with money to burn on tony Lake Tahoe addresses.
Oops, it turns out the economic upheaval, as predicted by Prop 30 proponents, is going to be put on hold:
Because of Prop. 30, California in the coming year will add payroll jobs more slowly, the statewide jobless rate will improve less quickly, and personal income won’t be as robust as originally predicted, according to the forecast.