Monday, July 30, 2012

Millions flee California because of progressive tax system

California has lost billions of dollars in revenue in recent years as businesses and residents flee the state, in part because other states have a more favorable business climate. - Angelica Malik/Daily Caller

According to one estimate, 254 businesses across a variety of industries moved all or some of their jobs out of state last year.

California has both the highest state deficit in the country and the highest personal income tax.