Cumulative Impacts From California Exodus Costs State Nearly $500 Billion, Will Get Worse: Economist

Cumulative Impacts From California Exodus Costs State Nearly $500 Billion, Will Get Worse: Economist

THE SIGNAL

Recent Internal Revenue Service data showing a net loss of more than 425,000 people between 2021 and 2022 indicates California is losing residents to states with lower or no income tax, according to a Chapman University professor.
“We are losing more of the high-income earners than the low-income earners, and it’s an increasing proportion of the total loss,” Jim Doti, president emeritus and professor of economics at Chapman University, told Epoch TV’s California Insider. “They’re more mobile and have the greatest incentive to leave because they’re paying 13.3 percent marg …

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