By Mac Slavo,
Californians are fleeing the state in droves to avoid the massive tax burden and oppressing business policies of the totalitarian state. Of the 700,000 who fled California last year, 10% ended up in Texas, which is a much more business-friendly state.
And it isn’t just individuals who are leaving. As Zerohedge reported, the influx of Californians should come as no surprise, as businesses have been migrating out of the high-tax, high-crime, heavily regulated state for cheaper pastures.
Last month, we reported that Charles Schwab’s relocation of their headquarters from San Francisco to Dallas, a move they expect to complete in the second half of 2020. Announced following the company’s $26 billion acquisition of TD Ameritrade, their new 70-acre Dallas-Fort Worth campus will cost around $100 million, and provide 500,000 square-feet of office space.
Chairman and founder Charles Schwab noted that one of the drivers behind the move from California was that “the costs of doing business here are so much higher than some other place.” – Zerohedge
Schwab is not the only business to pack up and move. Some 660 companies have moved 765 facilities out of California over the last 24 months, according to a new report.
The departures from the Golden State between January 2018 and now involve corporate headquarters, manufacturing facilities, data centers, research hubs, software and engineering centers and a few warehouses, according to business relocation expert Joe Vranich, president of Spectrum Location Services.
“Obviously a lot of them are going to Texas,” Vranich said in an interview with the Dallas Business Journal. “It just makes sense.”
California companies large, midsize and small are shifting their regional or corporate headquarters to North Texas because of the DFW area’s generally lower taxes, more affordable housing, lower expenses, central location, access to an international airport and other factors. –Dallas Business Journal
The Wall Street Journal reported last month that “The Lone Star State imposes a 0.75% franchise tax on business margins (total revenue minus compensation), which is substantially less than the corporate tax rates in California (8.84%)and Nebraska (7.81%), where TD Ameritrade is currently headquartered. The city of San Francisco also imposes a 0.38% payroll tax and a 0.6% gross receipts tax on financial service companies.” That made the move for Charles Schwab an easy decision.
Another problem with California policies is the overbearing requirements when it comes to hiring workers. One law cited in the exodus requires companies to hire workers as employees, not independent contractors, with limited exceptions. Aimed at giving basic labor rights and benefits to hundreds of thousands of people working for Uber, Lyft, Doordash, and similar companies, the companies affected say it’s not feasible.
“I don’t know how companies can continue to deal with this brutal assault that is on them,” said Joe Vranch, adding “Most of the municipalities in Texas are easier to get along with, and that’s a benefit in addition to things like no income tax and an easier regulatory environment.”
Disclaimer: We at Prepare for Change (PFC) bring you information that is not offered by the mainstream news, and therefore may seem controversial. The opinions, views, statements, and/or information we present are not necessarily promoted, endorsed, espoused, or agreed to by Prepare for Change, its leadership Council, members, those who work with PFC, or those who read its content. However, they are hopefully provocative. Please use discernment! Use logical thinking, your own intuition and your own connection with Source, Spirit and Natural Laws to help you determine what is true and what is not. By sharing information and seeding dialogue, it is our goal to raise consciousness and awareness of higher truths to free us from enslavement of the matrix in this material realm.
More people left California (661,026) than arrived (523,131) from other U.S. states. But for the nation’s most populous state, with 39 million residents, that amounted to a tiny fraction in net departures: just 0.35%.
A 2019 relocation study by Texas Realtors found that 63,175 Californians moved to Texas in 2017, while California was the top destination for Texans to move — nearly 41,000 relocated here.
The state attracts a steady stream of college graduates, especially from the East Coast, even as many less-educated residents move to neighboring states — and to Texas — in search of a lower cost of living.
Los Angeles Times article By Sarah Parvini & John Myers, Dec.31, 2019
Ok – Thankyou Edward. I’ve seen it approved in minutes so thought it was removed because I mentioned T. Ok, thank you.
Happy Soaring 20’s!
Thank you for putting my comment back.
That’s REALLY bad taking out my
comment that I just posted for
You are going to be in total shock when you hear the Truth regarding California. I am related to some pretty bad people I mentioned in that post. What they’ve done would make you sick. My 5th gen uncle raised the American flag for the first time in California in 1836.
Shame on you for removing my comment.
Dear Marilyn, No one removed your comment, all comments are being moderated due to trolls, it usually takes 24 hrs or less for comments to be approved and posted on the site, have patience and a Happy New year!
Do you know about
New Californua State?
52 out of 58 CA counties have signed up! We are following
Art 4 Sec 3 of US Constitution. Just as when West Virginia broke off from Virginia in 1861.
We already had 5 Constitutional Conventions and 95 grievances were read in all 52 counties every week at 52 Court Houses for 20 months. Nicki Haley is going to be our consultant and Trump will be announcing the insurrection law sometime in 2020 as mafiosi Pelosi and Gov Gruesome will most likely NOT sign off as required by US Constitution. It’s grass roots and it IS happening!! I almost moved to but we gotta “stay to play”!! 🙂 Nevada, Oregon, Washington and Illinois is following our lead!
Illinois is probably going to announce their NEW State after California does. Check it out: NewCaliforniaState.com
Watch the video with RPN news.
I got the President on this show. I was suppose to be on it but there was a gliche with Zoom. But it’s a fantastic interview.