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Comment by gesman | Hacker News Reader

California better stop punishing entrepreneurs with it's heavy tax stick before experiencing disaster in it's tax revenues.

Exodus seems to be accelerating.

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This viewpoint doesn't appear to jive with the one being portrayed currently[1], that the exodus is only among the poor/middle-class and that the immigration of the rich and high-earners is actually accelerating.

1: https://www.latimes.com/politics/la-pol-sac-skelton-income-t...

the exodus is only among the poor/middle-class and that the immigration of the rich and high-earners is actually accelerating.

Is that supposed to make the groupthink better or worse? I suspect worse, as it's reducing the viewpoint diversity, as viewpoint is affected by socioeconomic status and livelihood.

I think the point is that tax isn't driving an exodus of businesses/entrepreneurs as OP suggested. The opposite is true and it's driving out lower income people. Oakland, for example, is growing like SF with 10+ tall buildings going up this year downtown to accommodate tech companies and their employees.

What do you think is going to happen when significant portions of the poor and middle class leave?

Fewer people to pay for California's absurd public sector pensions and expensive government services -> higher taxes on the people remaining.

I've heard the argument that despite the heavy tax burden, it's just treated as another cost of doing business due to all the benefits of being in the Bay Area (depth of talent pool, fantastic network support, oodles and oodles of VC money, etc).

Talk of exodus is certainly accelerating

California is punishing so much, that actual tax revenue, VC funding, GDP, job, salaries are growing exponentially faster than other states.

https://www.pwc.com/us/en/industries/technology/moneytree/ex...

*its

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