Tuesday, February 28, 2006

The People's Republic of California

After the dot-com bubble burst, we joked about all of the east-bound U-Hauls, but apparently the exodus continues five years later.

According to 2005 Census Bureau figures, 239,416 more native-born Americans moved out of California than moved into the Golden State. So many folks are checking out that the cost to rent a U-Haul trailer to move from Los Angeles to Boise, Idaho is $2,090. That's eight times more than moving the other direction.

From the editorial page of the WSJ:
What's gone wrong? A big part of the story is a tax and regulatory culture that treats the most productive businesses and workers as if they were ATMs. The cost to businesses of complying with California's rules, regulations and paperwork is more than twice as high as in other Western states.
To make matters worse, Rob "Meathead" Reiner and his Hollywood buddies have put an initiative on California's June ballot to add a 1.7% "millionaire" surcharge on folks earning over $400,000.

Real estate values in Nevada and Idaho are on the way up!

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