California leading the way on the economy

The basic issue with tech relocating to say Texas.....is the terrible environment, lack of amenities and poor higher education. Texas has good schools but few world class....if any. The migration from New England schools to SF is huge......actually all that relly counts. CA always lead us out of recessions and of course is doing so now....forth largest economy in the world with strong Asian ties.......not to worry about CA

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hopefully the poor economy will drive unskilled East......a drag on the system there.

Those who can should focus on fixing the mess East.......pleanty to do there.....massive needs there.

We have always been at war with Eastasia.

More doublespeak about California from the Left here.

FredHayek wrote: We have always been at war with Eastasia.

More doublespeak about California from the Left here.

Anecdotal....

Grady wrote: Apparently California is not leading the economy.

Indeed, in the last five years Texas has gained 400,000 new jobs while California has lost 640,000. The Lone Star State’s rate of job growth was 33 percent higher than California’s last year, even as the Golden State finally pulled out of the recession.

Joseph Vranich, a California business-relocation expert, agrees that California has a systemic job-creation problem and says it needs to worry about more than just Texas. He says that 15 states are sending delegations to California and seeking to convince firms to relocate or, if they stay in California, to expand their operations out of state.

EBay, Facebook, and Visa, among others, have recently made major expansions in Texas. “That kind of talk will only intensify now that top earners in California face a 13.3 percent income-tax hit on earnings over $1 million,” says Jon Fleischman, editor of the political blog FlashReport.com. “That’s not only the highest rate in the U.S. It’s the highest rate any state has had since World War II.”

California has the third-highest cost of living, while Texas has the second-lowest,” says Chuck DeVore, a former California GOP state legislator who relocated to the Lone Star State to work as an analyst for the Texas Public Policy Foundation. “That means California’s $8 minimum wage buys $6.06 worth of goods and services, while Texas’s lower $7.25 wage buys the equivalent of $8.04.” One might even say that California’s high-tax, high-cost model is a form of class warfare against its poorest residents.

National Review

The entire article was about Texas Governor Perry making a push for businesses to relocate to Texas from California.

Texas leads the way in low paying jobs, while California is leading the way in high tech, high paying jobs.

High tech companies are more interested in locating in areas where education is a priority over simply looking at tax issues. Also, when companies do their homework, Texas has considerably higher property and sales taxes than most states, which affect companies more than individual income tax rates.

California bouncing back? Probably had to happen after being down for so long, then again, it could just be a dead cat bounce. Time will tell. With all those businesses leaving, others will come in to take their place, willing to put up with the high taxes and anti-business legislature. People will pay a premium to work and live near the beach and great weather.
Plus with the very good welfare benefits, a lot of people will stay and not work.

OOPS


"latimes.com

California's budget windfall could end soon, officials say

The governor's budget office advises in a report that the surprise $5-billion bump in revenue in January may be an accounting anomaly."

http://www.latimes.com/news/local/la-me ... rint.story

Something the Dog Said wrote: Texas leads the way in low paying jobs, while California is leading the way in high tech, high paying jobs.

High tech companies are more interested in locating in areas where education is a priority over simply looking at tax issues. Also, when companies do their homework, Texas has considerably higher property and sales taxes than most states, which affect companies more than individual income tax rates.

As Mark Twain said (which he admitted he stole)... "There are three kinds of lies: lies, damned lies, and statistics."

Your graph is a joke. How about a link where you got the graph from? I'm not talking about the sources mentioned at the bottom of the graph, I'm talking about who made that graph.

Just one example is that graph shows the change of unemployment as nearly equal between Texas and California. The fact is that as of Dec 2012 Calif is still stuck at 9.8% unemployment while Texas is at 6.1%.

http://www.bls.gov/web/laus/laumstrk.htm

So the fact is that Texas outpaced California by a wide margin if you are fair and consider that the Texas unemployment was already low to begin with. It's a lot easier to show "improvement" when you have a terrible unemployment rate in California while Texas has a much lower rate. Do I really have to keep explaining the obvious?? The fact that Texas still matched Calif is actually very impressive, considering the starting points.

"There are three kinds of lies: lies, damned lies, and statistics."


edited to add: I see the graph is from businessweek.com, but I'd like to see the article.

The Economist points out that Calif has a chance to stage their own North Dakota miracle and start fracking their reserves but will the local enviros let them.

FredHayek wrote: The Economist points out that Calif has a chance to stage their own North Dakota miracle and start fracking their reserves but will the local enviros let them.

No.

Rick wrote:

FredHayek wrote: The Economist points out that Calif has a chance to stage their own North Dakota miracle and start fracking their reserves but will the local enviros let them.

No.

Yeah you wouldn't want to dirty up Bakersfield.