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That point was reached many years ago. Here's some information:

https://lao.ca.gov/LAOEconTax/Article/Detail/265



This shows that wealthier people are moving to California, while middle and lower income people are leaving (People with an income lower than 110k a year).


That's due to rent, not taxes, though, right?

A tax impacting the top 0.5% of earners would maybe cause someone to move a corporate HQ out-of-state.

That said, based on how SF's Prop C (2018) went, billionaires disagree on whether or not paying more taxes is fair.




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