In addition, there was an increase in sales tax to 7.5% from 7.25%. So Phil, who pays 43% to Uncle Sam, will have another 13.3% of his income snatched, and he had the nerve to complain, suggesting it might be time to break out the driver, pack the bags, and get the hell out of town & state.
It's unfortunate he had to take the heat, which didn't get better even when Tiger told the press that's why he left, and that was before the latest tax increase. Keep in mind that even now people earning more than $48,000 have a whopping 9.3% tax hit. If Phil leaves, it could take him a long time to actually get out of the state because it's been a crowded line.
California's population grows each year, but it's very deceptive. There has been massive migration of the state's mostly educated and motivated people to other states.
Hussman's Open Letter to the Fed; The Problem with Bubbles; Textbook Pre-Crash Bubble; Reflections on Not Chasing Bubbles; Integrity vs. Respect | Mike Shedlock