High taxes be damned, the rich keep moving to California
Are rich people fleeing California to escape astronomical state income taxes? That’s the word. But it’s fake news. In fact, more wealthy people are moving to California than leaving, research indicates. It’s the poor and middle class who are departing. It makes sense. If you’re getting rich in California and can afford to live comfortably here in this balmy climate, there’s little incentive to leave — except to stick it to the tax collector in Sacramento.