California’s anti-business, high-tax policies are driving businesses and people away

  • 📰 ladailynews
  • ⏱ Reading Time:
  • 61 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 59%

France Nouvelles Nouvelles

California’s anti-business, high-tax policies are driving businesses and people away
France Dernières Nouvelles,France Actualités

States that fail to heed this warning risk losing not only businesses but also the hard-working individuals who drive economic growth.

FILE – California Gov. Gavin Newsom speaks to reporters outside the California Natural Resources Agency in Sacramento, Calif., on Oct. 7, 2022. The state of California has filed a lawsuit against some of the world’s largest oil and gas companies, claiming they deceived the public about the risks of fossil fuels blamed for climate change-related storms and wildfires that caused billions of dollars in damage.

The differences between California and Texas could not be more pronounced. On one hand, Texas has embraced a model of low taxation, limited regulation, and fiscal responsibility. This approach has not only attracted businesses like Chevron but has also made Texas a top destination for individuals seeking a better economic future. In 2022 alone, Texas gained a net $10 billion in adjusted gross income from new residents, while Florida, another low-tax state, gained a staggering $35 billion.

Chevron’s departure should serve a wake-up call for California and other high-tax states. The movement of people and wealth across state lines is not just a coincidence—it’s a direct result of policy decisions. States with favorable economic policies are winning the battle for businesses and residents, while those that cling to outdated, punitive approaches are losing out.report, which I co-author with economists Arthur Laffer and Stephen Moore, has tracked these trends.

Chevron’s relocation should serve as a cautionary tale for states that have neglected their economic competitiveness in favor of high taxes and overregulation. The stakes are high, and the consequences are real.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

ladailynews /  🏆 332. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités