STILL GOLDEN - Over the years, anti-tax crusaders have been desperate to prove that California's wealthiest residents, along with the companies they own, are leaving the state in large numbers because the cost of doing business is just too high - certainly compared with places like Texas. But it's not true - never has been, never will be.
Yes, California does lose people and businesses, but the numbers are generally offset by gains in population and business formations. The reason is clear: California, despite all its hassles, cannot be duplicated. That's the trick, you out-of-state dolts.
As LAT columnist Mike Hiltzik points out, venture investments in the state totaled $14 billion in 2012, more than half of all such investments in the US. (Read more … including what Hiltzik says about Rick Perry’s job poaching campaign … here)
-cw
CityWatch
Vol 11 Issue 15
Pub: Feb 19, 2013